Blackberry 2007 Annual Report Download - page 59

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57
• provide reasonable assurance that transactions are
recorded as necessary to permit preparation of financial
statements in accordance with GAAP, and that receipts
and expenditures of the Company are being made only
in accordance with authorizations of management and
directors of the Company; and
• provide reasonable assurance regarding prevention
or timely detection of unauthorized acquisition, use or
disposition of the Company’s assets that could have a
material effect on the financial statements.
Because of its inherent limitations, internal control over
financial reporting may not prevent or detect misstatements.
Projections of any evaluation of effectiveness to future
periods are subject to the risks that controls may become
inadequate because of changes in conditions, or that the
degree of compliance with the policies or procedures may
deteriorate.
Management assessed the effectiveness of the Company’s
internal control over financial reporting as of March 3, 2007.
In making this assessment, management used the criteria set
forth by the Committee of Sponsoring Organizations of the
Treadway Commission (COSO) in Internal Control-Integrated
Framework. Based on this assessment, management believes
that, as of March 3, 2007, the Company’s internal control over
financial reporting was effective.
The Company’s independent auditors have issued an
audit report on management’s assessment of the Company’s
internal control over financial reporting. This report is
included with the Consolidated Financial Statements.
Changes in Internal Control Over Financial Reporting
Except as described above, during the fiscal year ended
March 3, 2007 there were no changes in the Company’s
internal control over financial reporting that have materially
affected or are reasonably likely to materially affect the
Company’s internal control over financial reporting.