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2008 ANNUAL REPORT 37
Management’s Report on Internal Control
Over Financial Reporting
We are responsible for establishing and maintaining effective internal control over fi nancial reporting. Our Company’s internal control
over fi nancial reporting includes those policies and procedures that pertain to the Company’s ability to record, process, summarize
and report a system of internal accounting controls and procedures to provide reasonable assurance, at an appropriate cost/benefi t
relationship, that the unauthorized acquisition, use or disposition of assets are prevented or timely detected and that transactions are
authorized, recorded and reported properly to permit the preparation of fi nancial statements in accordance with generally accepted
accounting principles (GAAP) and receipt and expenditures are duly authorized. In order to ensure the Company’s internal control
over fi nancial reporting is effective, management regularly assesses such controls and did so most recently for its fi nancial reporting
as of December 31, 2008.
We conduct an evaluation of the effectiveness of our internal controls over fi nancial reporting based on the framework in Internal
Control – Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission. This evaluation
included review of the documentation, evaluation of the design effectiveness and testing of the operating effectiveness of controls.
Our system of internal control over fi nancial reporting is enhanced by periodic reviews by our internal auditors, written policies and
procedures and a written Code of Conduct adopted by our Company’s Board of Directors, applicable to all employees of our Company.
In addition, we have an internal Disclosure Committee, comprised of management from each functional area within the Company,
which performs a separate review of our disclosure controls and procedures. There are inherent limitations in the effectiveness of any
system of internal controls over fi nancial reporting.
Based on our evaluation, we conclude our Company’s internal control over fi nancial reporting is effective and provides reason-
able assurance that assets are safeguarded and that the fi nancial records are reliable for preparing fi nancial statements as of
December 31, 2008.
Ernst & Young LLP, independent registered public accounting fi rm, is appointed by the Board of Directors and ratifi ed by our Company’s
shareholders. They were engaged to render an opinion regarding the fair presentation of our consolidated fi nancial statements as well
as conducting a review of the system of internal accounting controls. Their accompanying report is based upon an audit conducted in
accordance with the Public Company Accounting Oversight Board (United States).
February 26, 2009