Charles Schwab 2010 Annual Report Download - page 107

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THE CHARLES SCHWAB CORPORATION
Management’s Report on Internal Control Over Financial Reporting
Management of The Charles Schwab Corporation, together with its subsidiaries (the Company), is responsible for establishing and
maintaining adequate internal control over financial reporting. The Company’s internal control over financial reporting is a process
designed under the supervision of and effected by the Company’s chief executive officer and chief financial officer to provide
reasonable assurance regarding the reliability of financial reporting and the preparation of published financial statements in
accordance with accounting principles generally accepted in the United States of America.
As of December 31, 2010, management conducted an assessment of the effectiveness of the Company’s internal control over financial
reporting based on the framework established in Internal Control – Integrated Framework issued by the Committee of Sponsoring
Organizations of the Treadway Commission. Based on this assessment, management has determined that the Company’s internal
control over financial reporting was effective as of December 31, 2010.
The Company’s internal control over financial reporting includes policies and procedures that pertain to the maintenance of records
that, in reasonable detail, accurately and fairly reflect transactions and dispositions of assets; provide reasonable assurance that
transactions are recorded as necessary to permit preparation of financial statements in accordance with accounting principles
generally accepted in the United States of America, and that receipts and expenditures are being made only in accordance with
authorizations of management and the 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 Company’s
financial statements.
The Company’s internal control over financial reporting as of December 31, 2010, has been audited by Deloitte & Touche LLP, an
independent registered public accounting firm, as stated in their report appearing on the previous page.
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