WORLD HEART CORPORATION
Audited Financial Statements
For the year ended December 31, 2002
Management's Statement of Responsibility
Management is responsible for the preparation of the consolidated financial statements and all other information in
the annual report. The financial statements have been prepared in accordance with Canadian generally accepted
accounting principles ("GAAP") and reflect management's best estimates and judgments. The financial information
presented elsewhere in the annual report is consistent with the consolidated financial statements.
Management has developed and maintains a system of internal controls to provide reasonable assurance that all
assets are safeguarded and to facilitate the preparation of relevant, reliable and timely financial information.
Consistent with the concept of reasonable assurance, the Corporation recognizes that the relative cost of
maintaining these controls should not exceed their expected benefits.
The Audit Committee, which is comprised of independent directors, reviews the financial statements, considers
the report of the external auditors, assesses the adequacy of the Corporation's internal controls, and recommends
to the Board of Directors the independent auditors for appointment by the shareholders. The financial statements
were reviewed by the Audit Committee and approved by the Board of Directors.
The consolidated financial statements were audited by PricewaterhouseCoopers LLP, the external auditors, in
accordance with generally accepted auditing standards on behalf of the shareholders.
Auditors' Report to the Shareholders of World Heart Corporation
We have audited the consolidated balance sheets of World Heart Corporation as at December 31, 2002 and
2001, and the consolidated statements of loss, shareholders' equity (deficiency) and cash flows for the years
ended December 31, 2002, 2001 and 2000. These financial statements are the responsibility of the
Corporation's management. Our responsibility is to express an opini