Page 76 - Suncor AR English

staff without unacceptably high attrition, and to satisfy an safely, on budget and on schedule. The ability to balance
employee’s work/life balance and desire for competitive these two sets of objectives is critically important to Suncor

compensation. The labour market in Alberta is particularly to deliver value to shareholders and stakeholders. These
tight due to the growth of the oil sands industry. The objectives also demand a large number of improvement

increasing age of our existing workforce adds further initiatives that compete for resources, and may negatively
pressure to this situation. Materials may also be in short impact the company should there be inadequate

supply due to smaller labour forces in many manufacturing consideration of the cumulative impacts of prior and
operations. Our ability to operate safely and effectively and parallel initiatives on people, processes and systems. There

complete all our projects on time and on budget has the is a risk that these objectives may exceed Suncor’s capacity
potential to be significantly impacted by these risks.
to adopt and implement change.

Change Capacity
Other Risk Factors

In order to achieve Suncor’s business objectives, the A detailed discussion of additional risk factors is presented
company must operate efficiently, reliably and safely, and, in our most recent Annual Information Form / Form 40-F,

at the same time, deliver growth and sustaining projects
filed with securities regulators.

11. OTHER ITEMS

Control Environment
the extent permitted by applicable law and does not

Based on their evaluation as of December 31, 2013, consider the changes in the country to have had a material
impact on the company’s overall internal control over
Suncor’s Chief Executive Officer and Interim Chief Financial
Officer concluded that the company’s disclosure controls financial reporting.

and procedures (as defined in Rules 13a-15(e)
The effectiveness of our internal control over financial
and 15d-15(e) under the United States Securities Exchange reporting as at December 31, 2013 was audited by

Act of 1934, as amended (the Exchange Act)), are effective PricewaterhouseCoopers LLP, an independent registered
to ensure that information required to be disclosed by the public accounting firm, as stated in their report, which is

company in reports that are filed or submitted to Canadian included in our audited Consolidated Financial Statements
and U.S. securities authorities is recorded, processed, for the year ended December 31, 2013.

summarized and reported within the time periods specified Based on their inherent limitations, disclosure controls and
in Canadian and U.S. securities laws. In addition, as of
procedures and internal control over financial reporting
December 31, 2013, there were no changes in the internal may not prevent or detect misstatements, and even those
control over financial reporting (as defined in Exchange Act
controls determined to be effective can provide only
Rules 13a-15(f) and 15d-15(f)) that occurred during the reasonable assurance with respect to financial statement
year ended December 31, 2013 that have materially
preparation and presentation.
affected, or are reasonably likely to materially affect, the
company’s internal control over financial reporting.
Corporate Guidance
Management will continue to periodically evaluate the Detailed guidance on the company’s outlook for 2014
company’s disclosure controls and procedures and internal
production, capital expenditures and other items can be
control over financial reporting and will make any found in Suncor’s press release dated February 3, 2014,
modifications from time to time as deemed necessary.
available on www.sedar.com and on the Suncor website at
As a result of political unrest in Syria, Suncor is not able to www.suncor.com/guidance. The press release provides

monitor the status of the Syrian assets, including whether updates to the guidance that was previously issued on
certain facilities have suffered damages. Suncor is November 20, 2013.

continually assessing the control environment in Syria to

72 SUNCOR ENERGY INC. ANNUAL REPORT 2013