CarMax 2013 Annual Report Download - page 41

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Item 8. Consolidated Financial Statements and Supplementary Data.
MANAGEMENT’S ANNUAL REPORT ON INTERNAL CONTROL
OVER FINANCIAL REPORTING
Management is responsible for establishing and maintaining adequate internal control over financial reporting for
the company. Because of its inherent limitations, internal control over financial reporting may not prevent or detect
misstatements. Accordingly, even effective internal control over financial reporting can provide only reasonable
assurance regarding the reliability of financial reporting and the preparation of financial statements for external
purposes in accordance with U.S. generally accepted accounting principles.
Management conducted an evaluation of the effectiveness of our internal control over financial reporting based on
the framework and criteria established in Internal Control—Integrated Framework, issued by the Committee of
Sponsoring Organizations of the Treadway Commission. Based on this evaluation, our management has concluded
that our internal control over financial reporting was effective as of February 28, 2013.
KPMG LLP, the company's independent registered public accounting firm, has issued a report on our internal
control over financial reporting. Their report is included herein.
THOMAS J. FOLLIARD
PRESIDENT AND CHIEF EXECUTIVE OFFICER
THOMAS W. REEDY
EXECUTIVE VICE PRESIDENT AND
CHIEF FINANCIAL OFFICER
37