Blizzard 2008 Annual Report Download - page 45

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31
a deficiency, or a combination of deficiencies, in internal control over financial reporting, such
that there is a reasonable possibility that a material misstatement of the Company’s annual or
interim financial statements will not be prevented or detected on a timely basis.
As previously disclosed, in connection with the preparation of its financial statements, on
a stand-alone U.S. GAAP basis, for the fiscal years ended December 31, 2007 and 2006, Vivendi
Games did not properly design and/or operate effective controls to detect certain errors in the
preparation, classification and disclosure of its financial statements; additionally, Vivendi Games
did not properly design and/or operate effective controls to detect certain errors in the preparation
of the stand-alone tax provision and related tax disclosures in its financial statements for the fiscal
year ended December 31, 2007.
Subsequent to the consummation of the Business Combination on July 9, 2008,
Activision Blizzard management became responsible for establishing and maintaining the
combined Company’s internal control over financial reporting, including financial statement
preparation and reporting and tax provision preparation and reporting.