Cisco 2004 Annual Report Download - page 13
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Please find page 13 of the 2004 Cisco annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.16CISCOSYSTEMS,INC.
JOHNT.CHAMBERS
PRESIDENTANDCHIEFEXECUTIVEOFFICER
DENNISD.POWELL
SENIORVICEPRESIDENTAND
CHIEFFINANCIALOFFICER
Cisco’smanagementhasalwaysassumedfullaccount-
abilityformaintainingcompliancewithourestablished
financialaccountingpoliciesandforreportingourresults
withobjectivityandthehighestdegreeofintegrity.Itis
criticalforinvestorsandotherusersoftheconsolidated
financialstatementstohaveconfidencethatthefinancial
informationthatweprovideistimely,complete,relevant,
andaccurate.Managementisresponsibleforthefair
presentationofCisco’sconsolidatedfinancialstatements,
preparedinaccordancewithgenerallyacceptedaccounting
principles(GAAP),andhasfullresponsibilityfortheir
integrityandaccuracy.
Management,withoversightofCisco’sBoardofDirectors,
hasestablishedandmaintainsastrongethicalclimate
sothatouraffairsareconductedtothehigheststandards
ofpersonalandcorporateconduct.Managementalso
hasestablishedaneffectivesystemofinternalcontrol
thatprovidesreasonableassuranceastotheintegrity
andaccuracyoftheconsolidatedfinancialstatements.
Cisco’spoliciesandpracticesreflectcorporategovernance
initiativesthatarecompliantwiththelistingrequirements
ofNasdaqandthecorporategovernancerequirements
oftheSarbanes-OxleyActof2002,including:
• OurBoardhasadoptedclearcorporategovernance
policies
• AmajorityofourBoardmembersareindependent
ofCiscoanditsmanagement
• AllmembersofourkeyBoardcommittees—theAudit
Committee,theCompensationandManagement
DevelopmentCommittee,andtheNominationand
GovernanceCommittee—areindependent
• TheindependentmembersofourBoardmeetregularly
withoutthepresenceofmanagement
• Wehaveaclearcodeofbusinessconductthatis
monitoredbyourethicsofficeandisannually
affirmedbyouremployees
• ThechartersofourBoardcommitteesclearlyestablish
theirrespectiverolesandresponsibilities
• Wehaveanethicsofficewithahotlineavailabletoall
employees,andourAuditCommitteehasprocedures
inplacefortheanonymoussubmissionofemployee
complaintsonaccounting,internalaccountingcontrols,
orauditingmatters
• Wehaveadoptedacodeofethicsthatappliestoour
principalexecutiveofficerandallmembersofour
financedepartment,includingtheprincipalfinancial
officerandprincipalaccountingofficer
• Ourinternalauditcontrolfunctionmaintainscritical
oversightoverthekeyareasofourbusinessand
financialprocessesandcontrols,andreportsdirectly
toourAuditCommittee
PricewaterhouseCoopersLLP,ourindependentregistered
publicaccountingfirm,reportsdirectlytotheAudit
CommitteeoftheBoardofDirectors.Pricewaterhouse
CoopersLLP’saccompanyingreportonourconsolidated
financialstatementsisbasedonitsexaminationconducted
inaccordancewithauditingstandardsgenerallyaccepted
intheUnitedStates,includingareviewofourinternal
controlstructureforpurposesofdesigningtheiraudit
procedures.Attheendofournextfiscalyear,ourinde-
pendentregisteredpublicaccountingfirmwillreporton
ourassertionsastotheeffectivenessofourinternalcontrol
overfinancialreportingasrequiredunderSection404of
theSarbanes-OxleyActof2002.Weareconfidentinthe
effectivenessofourinternalcontrolsandourabilityto
meettherequirementsofthisnewlyenactedlegislation.
Wearecommittedtoimprovingshareholdervalueand
fullyunderstandandembraceourfiduciaryoversight
responsibilities.Wearededicatedtoensuringthatour
highstandardsoffinancialaccountingandreportingas
wellasourunderlyingsystemofinternalcontrolsare
maintained.Ourculturedemandsintegrityandwehave
thehighestconfidenceinourprocesses,ourinternal
controls,andourpeople,whoareobjectiveintheir
responsibilitiesandwhooperateunderthehighest
levelofethicalstandards.
STATEMENTOFRESPONSIBILITY