Chili's 2008 Annual Report Download - page 70

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MANAGEMENT’S RESPONSIBILITY FOR CONSOLIDATED FINANCIAL STATEMENTS
Management is responsible for the reliability of the consolidated financial statements and related
notes, which have been prepared in conformity with U. S. generally accepted accounting principles and
include amounts based upon our estimate and judgments, as required. The consolidated financial
statements have been audited and reported on by our independent registered public accounting firm,
KPMG LLP, who were given free access to all financial records and related data, including minutes of the
meetings of the Board of Directors and Committees of the Board. We believe that the representations
made to the independent auditors were valid and appropriate.
We maintain a system of internal controls over financial reporting designed to provide reasonable
assurance of the reliability of the consolidated financial statements. Our internal audit function monitors
and reports on the adequacy of the compliance with the internal control system and appropriate actions
are taken to address significant control deficiencies and other opportunities for improving the system as
they are identified. The Audit Committee of the Board of Directors, which is comprised solely of outside
directors, provides oversight to the financial reporting process through periodic meetings with our
independent auditors, internal auditors, and management. Both our independent auditors and internal
auditors have free access to the Audit Committee. Although no cost-effective internal control system will
preclude all errors and irregularities, we believe our controls as of and for the year ended June 25, 2008
provide reasonable assurance that the consolidated financial statements are reliable.
MANAGEMENT’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING
Management is responsible for establishing and maintaining adequate internal control over financial
reporting. We have assessed the effectiveness of our internal control over financial reporting based on the
framework in Internal Control—Integrated Framework issued by the Committee of Sponsoring
Organizations of the Treadway Commission. Based on our assessment, we concluded that our internal
control over financial reporting was effective as of June 25, 2008.
Because of inherent limitations, internal control over financial reporting may not prevent or detect
misstatements. Also, projection of any evaluation of effectiveness to future periods are subject to the risk
that controls may become inadequate because of changes in conditions, or that the degree of compliance
with the policies and procedures may deteriorate.
The effectiveness of our internal control over financial reporting as of June 25, 2008 has been audited
by KPMG LLP, an independent registered public accounting firm, as stated in its attestation report which
is included herein.
DOUGLAS H. BROOKS
President and Chief Executive Officer
CHARLES M. SONSTEBY
Executive Vice President and Chief Financial Officer
F-36