Canwest's 2nd quarter disclosure does not discharge its regulatory obligations concerning filing Canwest's 2nd quarter 2010 shareholder balance sheet
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To the Audit Committee of Canwest Global Communications Corp.
Quote 2nd quarter 2010 auditor seal "This report is solely for the use of the Audit Committee of the Canwest Global Communications Corp. to assist it in discharging its regulatory obligation to review these interim consolidated financial statements, and should not be used for any other purpose. Any use that a third party makes of this report, or any reliance or decisions made based on it, are the responsibility of such third parties. We accept no responsibility for loss or damages, if any, suffered by any third party as a result of decisions made or actions taken based on this report."
A lie. "Based on our review, we are not aware of any material modification that needs to be made for these interim consolidated financial statements to be in accordance with Canadian generally accepted accounting principles." states PricewaterhouseCoopers LLP Manitoba.
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Accretion of long-term liabilities (33,091)
For example the auditor did not have section in footnotes explaining this. Yes in the accompanying documents this is explained as write down on the Goldman Sachs Atlantis, but needed to be in this document. GAAP problem writing down an investment not even made yet. Canwest saying its a put, and a put can be written down, but a promise to buy cannot, as no investment yet.]
