Avnet 2011 Annual Report Download - page 38

Download and view the complete annual report

Please find page 38 of the 2011 Avnet annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 101

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101

Table of Contents
Disclosure Controls and Procedures
The Company’
s management, including its Chief Executive Officer and Chief Financial Officer, have evaluated the effectiveness
of the Company’s disclosure controls and procedures (as such term is defined in Rules 13a-15(e) and 15d-
15(e) under the Securities
Exchange Act of 1934 (the “Exchange Act”)) as of the end of the reporting period covered by this report on Form 10-
K. Based on
such evaluation, the Chief Executive Officer and Chief Financial Officer have concluded that, as of the end of the period covered by
this report on Form 10-K, the Company’
s disclosure controls and procedures are effective such that material information required to
be disclosed by the Company in the reports that it files or submits under the Exchange Act is recorded, processed, summarized and
reported, within the time periods specified by the Securities and Exchange Commission’
s rules and forms and is accumulated and
communicated to management, including the Company’
s principal executive officer and principal financial officer, as appropriate to
allow timely decisions regarding required disclosure.
During the fourth quarter of fiscal 2011, there were no changes to the Company’
s internal control over financial reporting (as
defined in Rule 13a-
15(f) of the Exchange Act) that have materially affected, or are reasonably likely to materially affect, the
Company’s internal control over financial reporting.
Management’s Report on Internal Control Over Financial Reporting
The Company’
s management, including its Chief Executive Officer and Chief Financial Officer, is responsible for establishing
and maintaining adequate internal control over financial reporting as defined in Rules 13a-15(f) and 15(d)-
15(f) under the Exchange
Act. The Company’
s internal control over financial reporting is designed to provide reasonable assurance regarding the reliability of
financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles in the United States of America. Because of inherent limitations, internal control over financial reporting may not prevent or
detect misstatements. Also, controls may become inadequate because of changes in conditions, or the degree of compliance with the
policies or procedures may deteriorate. Management conducted an evaluation of the effectiveness of the Company’
s internal control
over financial reporting as of July 2, 2011. In making this assessment, management used the framework established in
Internal
Control — Integrated Framework
issued by the Committee of Sponsoring Organizations of the Treadway Commission and concluded
that the Company maintained effective internal control over financial reporting as of July 2, 2011.
The Company’s independent registered public accounting firm, KPMG LLP, has audited the effectiveness of the Company’
s
internal controls over financial reporting as of July 2, 2011, as stated in its audit report which is included herein.
Not applicable.
34
Item 9A.
Controls and Procedures
Item 9B.
Other Information