2019 BBNC Annual Report - Page 75

STATEMENT OF MANAGEMENT RESPONSIBILITY June 7, 2019 The management of Bristol Bay Native Corporation has a fiduciary responsibility to the Shareholders of the Corporation to maintain an adequate system of internal controls surrounding financial reporting. This includes the fair presentation of the financial condition and results of the Corporation’s operations, in accordance with U.S. generally accepted accounting principles, as included in the audited financial statements and the Annual Report. Management takes this responsibility very seriously and promotes the concept of good internal control by communicating the importance of internal control to all levels of the organization. Management has established a system of internal controls designed to provide reasonable assurance that financial reports are timely and accurate, the Corporation complies with laws and regulations in the conduct of its business, and that operations are generally conducted in an efficient and effective manner. These internal controls also help ensure that business is transacted in accordance with corporate policy, including ethics and integrity guidelines estab- lished by the Corporation. No system of internal controls can provide complete assurance in any of these areas, and effective internal controls are no guarantee of the success of any business venture. But in pursuing Bristol Bay Native Corporation’s mission, vision, and goals, management is committed to maintaining rigorous and effective oversight over the operations and administration of the Corporation’s business, through an effective internal control structure. The internal control structure surrounding financial reporting is monitored on an ongoing basis by the individuals responsible for the controls, and on a more structured basis by internal audit. Internal controls are also subject to an annual assessment by the Corporation’s external auditors, to facilitate the adequate planning and execution of the audit of financial statements. Appropriate actions are taken to address identified deficiencies in internal controls. This letter serves as management’s acknowledgment of its responsibility for the accurate and timely preparation and distribution of financial information, including the financial statements presented in this Annual Report. Management has prepared the audited financial statements included in the Annual Report and is not aware of any untrue statements of material fact or omissions thereof that would make the statements misleading. Based on management’s knowledge, the financial statements and other financial information included in the Annual Report fairly present, in all material respects, the financial condition and results of operations of the Corporation as of, and for, the periods presented. Joseph L. Chythlook CHAIRMAN, BOARD OF DIRECTORS Jason Metrokin PRESIDENT AND CHIEF EXECUTIVE OFFICER Ryan York EXECUTIVE VICE PRESIDENT AND CHIEF FINANCIAL OFFICER M anagement ' s D iscussion and A nalysis 73