Abercrombie & Fitch 2015 Annual Report Download - page 71

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Table of Contents
71
ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL
DISCLOSURE
None.
ITEM 9A. CONTROLS AND PROCEDURES
Disclosure Controls and Procedures
A&F maintains disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange
Act of 1934, as amended (the “Exchange Act”)) that are designed to provide reasonable assurance that information required to be
disclosed in the reports that A&F files or submits under the Exchange Act is recorded, processed, summarized and reported within
the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to A&F’s
management, including the Interim Principal Executive Officer of A&F and the Executive Vice President and Chief Financial
Officer of A&F, as appropriate to allow timely decisions regarding required disclosures. Because of inherent limitations, disclosure
controls and procedures, no matter how well designed and operated, can provide only reasonable, and not absolute, assurance that
the objectives of disclosure controls and procedures are met.
A&F’s management, including the Interim Principal Executive Officer of A&F and the Executive Vice President and Chief
Financial Officer of A&F, evaluated the effectiveness of A&F’s design and operation of its disclosure controls and procedures as
of the end of the fiscal year ended January 30, 2016. The Interim Principal Executive Officer of A&F and the Executive Vice
President and Chief Financial Officer of A&F concluded that A&F’s disclosure controls and procedures were effective at a
reasonable level of assurance as of January 30, 2016, the end of the period covered by this Annual Report on Form 10-K.
Management’s Annual Report on Internal Control Over Financial Reporting
The management of A&F is responsible for establishing and maintaining adequate internal control over financial reporting. A&F’s
internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) is a process designed
to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for
external purposes in accordance with accounting principles generally accepted in the United States of America.
Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also,
projections of any evaluations of effectiveness to future periods are subject to the risk that controls may become inadequate because
of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. Accordingly, even an
effective system of internal control over financial reporting will provide only reasonable assurance with respect to financial
statement preparation.
With the participation of the Interim Principal Executive Officer of A&F and the Executive Vice President and Chief Financial
Officer of A&F, management evaluated the effectiveness of A&F’s internal control over financial reporting as of January 30, 2016
using criteria established in the Internal Control-Integrated Framework (2013) issued by the Committee of Sponsoring
Organizations of the Treadway Commission (“COSO”). Based on the assessment of A&F’s internal control over financial reporting,
under the criteria described in the preceding sentence, management has concluded that, as of January 30, 2016, A&F’s internal
control over financial reporting was effective.
A&F’s independent registered public accounting firm, PricewaterhouseCoopers LLP, has issued an audit report on the effectiveness
of A&F’s internal control over financial reporting as of January 30, 2016 as stated in their report, which is included in “ITEM 8.
FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA” of this Annual Report on Form 10-K.
Changes in Internal Control Over Financial Reporting
There were no changes in A&F’s internal control over financial reporting during the fourth quarter ended January 30, 2016 that
materially affected, or are reasonably likely to materially affect, A&F’s internal control over financial reporting.
ITEM 9B. OTHER INFORMATION
None.