MANAGEMENT’S RESPONSIBILITY FOR FINANCIAL REPORTING
The accompanying consolidated financial statements of CryptoLogic Inc. are the responsibility of Management and have been
approved by the Board of Directors.
The consolidated financial statements have been prepared by Management in accordance with Canadian generally accepted
accounting principles. These statements include some amounts that are based on best estimates and judgment. Management
has determined such amounts on a reasonable basis in order to ensure that the financial statements are presented fairly, in all
CryptoLogic’s policy is to maintain systems of internal accounting and administrative controls of high quality, consistent with
reasonable cost. Such systems are designed to provide reasonable assurance that the financial information is relevant, accurate
and reliable and that the Company’s assets are appropriately accounted for and adequately safeguarded.
The Board of Directors is responsible for ensuring that Management fulfills its responsibilities for financial reporting and is
ultimately responsible for approving the financial statements. The Board carries out this responsibility principally through its
The Audit Committee is appointed by the Board and is comprised of a majority of outside Directors. The committee meets
periodically with Management and the external auditors to discuss internal controls over the financial reporting process,
auditing matters and financial reporting issues to satisfy itself that each party is properly discharging its responsibilities. The
Audit Committee reviews the Company’s annual consolidated financial statements, the external auditors’ report and other
information in the Annual Report. The committee reports its findings to the Board for consideration by the Board when it
approves the financial statements for issuance to the shareholders.
On behalf of the shareholders, the financial statements have been audited