Annual Report 2006-2007 – Management Responsibility for Financial Statements
For the year ended March 31, 2007
Responsibility for the integrity and objectivity of the accompanying financial statements for the year ended March 31, 2007 and all information contained in this report rests with the NRTEE management. These financial statements have been prepared by management in accordance with accounting policies issued by the Treasury Board of Canada Secretariat, which are consistent with Canadian generally accepted accounting policies for the public sector and year-end instructions issued by the Office of the Comptroller General.
Management is responsible for the integrity and objectivity of the information in these financial statements. Some of the information in the financial statements is based on management’s best estimates and judgment and gives due consideration to materiality. To fulfil its accounting and reporting responsibilities, management maintains a set of accounts that provides a centralized record of the NRTEE’s financial transactions. Financial information submitted to the Public Accounts of Canada and included in the NRTEE’s Departmental Performance Report is consistent with these financial statements.
Management maintains a system of financial management and internal control designed to provide reasonable assurance that financial information is reliable, that assets are safeguarded, and that transactions are in accordance with the Financial Administration Act, are executed in accordance with prescribed regulations, are within Parliamentary authorities, and are properly recorded to maintain accountability of Government funds. Management also seeks to ensure the objectivity and integrity of data in its financial statements by careful selection, training, and development of qualified staff, by organizational arrangements that provide appropriate divisions of responsibility, and by communication programs aimed at ensuring that regulations, policies, standards, and managerial authorities are understood throughout the NRTEE.
The financial statements of the NRTEE have been audited by the Auditor General of Canada, the independent auditor for the Government of Canada.
| Alexander Wood Acting President and Chief Executive Officer |
Lisa Woodward Director of Operations |
Ottawa, Canada
July 13, 2007
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