Arrow Electronics 2010 Annual Report Download - page 91

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89
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.
None.
Item 9A. Controls and Procedures.
Disclosure Controls and Procedures
The company's management, under the supervision and with the participation of the company's Chief
Executive Officer and Chief Financial Officer, carried out an evaluation of the effectiveness of the design
and operation of the company's disclosure controls and procedures as of December 31, 2010 (the
"Evaluation"). Based upon the Evaluation, the company's Chief Executive Officer and Chief Financial
Officer concluded that the company's disclosure controls and procedures (as defined in Rule 13a-15(e) of
the Securities Exchange Act of 1934) are effective.
Management's Report on Internal Control Over Financial Reporting
The company's management is responsible for establishing and maintaining adequate "internal control
over financial reporting" (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)). Management
evaluates the effectiveness of the company's internal control over financial reporting using the criteria set
forth by the Committee of Sponsoring Organizations of the Treadway Commission in Internal Control –
Integrated Framework. Management, under the supervision and with the participation of the company's
Chief Executive Officer and Chief Financial Officer, assessed the effectiveness of the company's internal
control over financial reporting as of December 31, 2010, and concluded that it is effective.
The company acquired eight separate entities over the course of the year ended December 31, 2010,
which are included in the company's 2010 consolidated financial statements and constituted 8.8 percent
of total assets as of December 31, 2010 and 1.7 percent of the company's consolidated sales and 1.8
percent of the company's consolidated net income attributable to shareholders for the year ended
December 31, 2010. The company has excluded these eight entities from its annual assessment of and
conclusion on the effectiveness of the company's internal control over financial reporting.
The company's independent registered public accounting firm, Ernst & Young LLP, has audited the
effectiveness of the company's internal control over financial reporting as of December 31, 2010, as
stated in their report, which is included herein.