Refer to the TELUS financial statements in Appendix A at the end of the book . 1. Focus on cash and temporary investments, net. Why did cash change during the year ended December 31, 2011? The statement of cash flows holds the answer to this question. Analyze the four largest individual items on the cash flow statement (exclude net income) over $1,000 million. For each of the four individual items, state how TELUS s action affected cash. Show amounts in millions. 2. TELUS s shares are listed on the Toronto Stock Exchange (TSX) and the New York Stock Exchange (NYSE). The U.S. listing requires TELUS to comply with Sarbanes-Oxley , which requires TELUS s auditor, Deloitte, LLP, to provide an opinion on the effectiveness of TELUS s internal control over financial reporting. Locate the auditor s report in TELUS s annual report in Appendix A and compare it to the certification in TELUS s MD&A. What is the major difference between the two?
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