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Responsibility for the integrity and objectivity of the accompanying financial statements for the year ended March 31, 2010 and all information contained in these statements rests with the management of the Library and Archives Canada. These financial statements have been prepared by management in accordance with Treasury Board accounting policies, which are based on Canadian generally accepted accounting principles for the public sector.
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 fulfill its accounting and reporting responsibilities, management maintains a set of accounts that provides a centralized record of the Library and Archives Canada's financial transactions. Financial information submitted in the preparation of the Public Accounts of Canada, and included in the Library and Archives Canada's Departmental Performance Report, is consistent with these financial statements.
Management is also responsible for maintaining an effective system of internal control over financial reporting 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 and other applicable legislation, regulations, authorities and policies.
Management seeks to ensure the objectivity and integrity of data in its financial statements through careful selection, training, and development of qualified staff; through organizational arrangements that provide appropriate divisions of responsibility; through communication programs aimed at ensuring that regulations, policies, standards and managerial authorities are understood throughout Library and Archives Canada.
The Audit committee shall review the departmental financial statements with management and all significant accounting estimates and judgments therein and recommend to the Deputy Head whether they should be accepted.
The financial statements of Library and Archives Canada have not been audited.
Daniel J. Caron
Librarian and Archivist of Canada
Date August 10th 2010
Mark Melanson, CGA
Chief Financial Officer
Date August 10th 2010