2020-21 SaskEnergy Annual Report

Consolidated Financial Statements

MANAGEMENT’S RESPONSIBILITY FOR FINANCIAL STATEMENTS Financial Reporting The accompanying consolidated financial statements are the responsibility of the management of SaskEnergy. They have been prepared in accordance with IFRS, using management’s best estimates and judgments where appropriate. Management is responsible for the reliability and integrity of the consolidated financial statements, the notes to the financial statements and all other financial information contained in this annual report. The Corporation’s Board of Directors (the Board) is responsible for ensuring that management fulfills its responsibilities for financial reporting and control. The Board is assisted in exercising its responsibility through its Audit and Finance Committee (the Committee). The Committee is composed of directors who are not employees of the Corporation. The Committee reviews the annual report and meets regularly with management, internal audit and external auditors to discuss internal controls, accounting, auditing and financial matters. The Committee recommends the appointment of the external auditors. The Committee reports its findings to the Board for its consideration in approving the consolidated financial statements. Internal Control Over Financial Reporting Management is also responsible for establishing and maintaining a system of internal controls, policies and procedures designed to provide reasonable assurance that assets are safeguarded and that accounting systems provide timely, accurate and reliable financial statements. The internal control system includes an internal audit function and an established code of conduct. Management assessed the effectiveness of the Corporation’s internal control over financial reporting as at March 31, 2021, based on the framework established in Internal Control — Integrated Framework issued by the Committee of Sponsoring organizations of the Treadway Commission. Based on this assessment, management concluded that the Corporation maintained effective control over financial reporting and that there were no material weaknesses in internal controls over financial reporting as at March 31, 2021. The consolidated financial statements have been audited by Deloitte LLP, Chartered Professional Accountants, as appointed by the Lieutenant Governor in Council and approved by CIC. The Independent Auditor’s Report expresses their opinions on the fairness of the financial statements prepared by management.

Ken From

Christine Short

President and

Executive Vice President and Chief Financial Officer

Chief Executive Officer


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