Section III: Supplementary Information - Financial Highlights

Statement of management responsibility

We have prepared the accompanying future-oriented financial statements of the Canada Revenue Agency according to the accounting principles consistent with those applied in preparing the financial statements of the Government of Canada. Significant accounting policies are set out in Note 4 to the financial statements. The future-oriented financial statements are submitted for Part III of the Estimates (Report on Plans and Priorities). The information will also be presented in the Agency's Departmental Performance Report to compare with actual results.

Management is responsible for the integrity and objectivity of the information contained in the future-oriented financial statements and for the process of developing assumptions. Assumptions and estimates are based upon information available and known to management at the time of development, reflect current business and economic conditions, and assume a continuation of current governmental priorities and consistency in the Agency's mandate and strategic objectives. Much of the future-oriented financial information is based on these assumptions, best estimates, and judgment and gives due consideration to materiality. At the time of preparation of these statements, management believes the estimates and assumptions to be reasonable. However, as with all such assumptions, there is a measure of uncertainty surrounding them. This uncertainty increases as the forecast horizon extends.

The actual results achieved for the fiscal years covered in the accompanying future-oriented financial statements will vary from the information presented and the variations may be material.

Approved by:

Linda Lizotte-MacPherson
Commissioner and Chief Executive Officer

Filipe Dinis
Chief Financial Officer and Assistant Commissioner, Finance and Administration

Ottawa, Ontario
March 14, 2012

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