34 Orbit G arant 2012 annual rep O rt M ANAGEMENT S RESPONSI b ILITY FOR FINANCIAL REPORTING The accompanying consolidated fnancial statements of Orbit Garant Drilling Inc the Company and all the information in this annual report are the responsibility of the management of the Company The consolidated fnancial statements have been prepared in accordance with International Financial Reporting Standards and where appropriate include managements best estimates and j udgments Management has reviewed the fnancial information presented throughout this report and has ensured that it is consistent wi th the consolidated fnancial statements Management maintains the required system of internal controls designed to provide reasonable assurance that transactions are authorized assets are safeguarded and the integrity and fairness of the fnancial information is ensured In addition manageme nt has reviewed the companys disclosure controls and procedures which are designed to ensure the quality and timeliness of the discl osures made to the public The Board of Directors of the Company is responsible for ensuring that management ful flls its responsibilities for fnancial reporting and is ultimately responsible for reviewing and approving the consolidated fnancial statements The Board of Directors carries out this responsibility principally through the Audit Committee The Board of Directors appoints the Audit Committee and all of the members of the Audit Committee are independent members of the Board of Directors The Audit Committee meets periodically with management and the shareholders auditors to review internal controls audit results and accounting principles Acting on the recommendati on of the Audit Committee the consolidated fnancial statements are forwarded to the Board of Directors of the Company for its approval Samson BelairDeloitte Touche sencrl an independent frm of chartered accountants has been appointed to express an independent professional opinion on the fairness of the consolidated fnancial statements Samson BelairDeloitte Touche sencrl has full and free access to the Audit Committee Eric Alexandre CPA CMA Alain Laplante FCPA FCGA President and Chief Executive Offcer VicePresident and Chief Financial Offcer ValdOr Quebec September 19 2012