Disclosure Controls and Procedures
As part of the Form 52-109 certification, the President and Chief Executive Officer (“CEO”) and the Chief Financial Officer (“CFO”) must certify that they are responsible for designing Disclosure Controls and Procedures (“DC&P”), or caused them to be designed under their supervision. The CEO and CFO must also certify that they are responsible for evaluating the operating effectiveness of DC&P and that a conclusion as to the effectiveness and design of DC&P should be provided in the MD&A. DC&P should provide reasonable assurance that:

  material information relating to the Company is made known to the CEO and the CFO by others, to make a determination as to the appropriateness and timing of public disclosure, if any; and
  information required to be disclosed by the Company in its annual filings, interim filings or other reports filed or submitted by it under securities legislation is recorded, processed, summarized and reported within the time periods specified in securities legislation;

The Company’s Disclosure Committee along with management and the CEO and CFO assist with the evaluation of DC&P design and operating effectiveness. Throughout the year, the Disclosure Committee is kept apprised of any material information affecting the Company so that it may discuss and evaluate such information to make a determination as to the appropriateness and timing of public release, if any.
 

As at December 31, 2010, the CEO and the CFO, based on their evaluation, concluded that DC&P were properly designed and were operating effectively.
 

Internal Controls over Financial Reporting
As part of the Form 52-109 certification, the CEO and the CFO must certify that they are responsible for designing Internal Controls over Financial Reporting (“ICFR”), or caused them to be designed under their supervision, and that they are responsible for evaluating the operating effectiveness of ICFR. ICFR should:

  provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with Canadian GAAP.

As at December 31, 2010, the CEO and the CFO, based on their evaluation, concluded that the design of ICFR provides reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with Canadian GAAP.

Using the framework set forth in Internal Control – Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”), management, under the supervision of the CEO and CFO, conducted its evaluation of the effectiveness of the Company’s ICFR as at December 31, 2010. Based on this evaluation, the CEO and CFO concluded that the Company’s ICFR are operating effectively and provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with Canadian GAAP.
 

Changes in Internal Controls over Financial Reporting

During fiscal 2010, there were no changes in internal controls over financial reporting that are likely to have, or had, a material effect on the Company’s internal controls over financial reporting.