Banana Republic 2005 Annual Report Download - page 36

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G A P I N C . F I N A N C I A L S 2 0 0 5
34 gap inc. 2005 annual report
MANAGEMENT’S RESPONSIBILITY FOR FINANCIAL STATEMENTS
Management is responsible for the preparation of the Company’s consolidated financial statements and related information appearing in this report.
Management believes that the consolidated financial statements fairly reflect the form and substance of transactions and that the financial state-
ments reasonably present the Company’s financial position and results of operations in conformity with generally accepted accounting principles.
Management also has included in the Company’s financial statements amounts that are based on estimates and judgments, which it believes are
reasonable under the circumstances.
An independent registered public accounting firm audits the Company’s consolidated financial statements in accordance with the standards estab-
lished by the Public Company Accounting Oversight Board (“PCAOB”).
The Board of Directors of the Company has an Audit and Finance Committee composed of four independent Directors. The committee meets peri-
odically with financial management, the internal auditors and the independent registered public accounting firm to review accounting, control, auditing
and financial reporting matters.