Comcast 2007 Annual Report Download - page 39

Report of Management
Management’s Report on Financial Statements
Our management is responsible for the preparation, integrity and fair presentation of information in our consolidated financial state-
ments, including estimates and judgments. The consolidated financial statements presented in this report have been prepared in
accordance with accounting principles generally accepted in the United States. Our management believes the consolidated financial
statements and other financial information included in this report fairly present, in all material respects, our financial condition, results of
operations and cash flows as of and for the periods presented in this report. The consolidated financial statements have been audited
by Deloitte & Touche LLP, an independent registered public accounting firm, as stated in their report, which is included herein.
Management’s Report on Internal Control Over Financial Reporting
Our management is responsible for establishing and maintaining an adequate system of internal control over financial reporting. Our
system of internal control over financial reporting is designed to provide reasonable assurance regarding the reliability of financial report-
ing and the preparation of financial statements for external purposes in accordance with accounting principles generally accepted in the
United States.
Our internal control over financial reporting includes those policies and procedures that:
• Pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect our transactions and dispositions of
our assets.
• Provide reasonable assurance that our transactions are recorded as necessary to permit preparation of our financial statements in
accordance with accounting principles generally accepted in the United States, and that our receipts and expenditures are being
made only in accordance with authorizations of our management and our directors.
• Provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of our assets
that could have a material effect on the financial statements.
Because of its inherent limitations, a system of internal control over financial reporting can provide only reasonable assurance and
may not prevent or detect misstatements. Further, because of changes in conditions, effectiveness of internal controls over financial
reporting may vary over time. Our system contains self-monitoring mechanisms, and actions are taken to correct deficiencies as they
are identified.
Our management conducted an evaluation of the effectiveness of the system of 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 this evaluation, our management concluded that our system of internal control over financial reporting was
effective as of December 31, 2007. The effectiveness of our internal controls over financial reporting have been audited by Deloitte &
Touche LLP, an independent registered public accounting firm, as stated in their report, which is included herein.
Audit Committee Oversight
The Audit Committee of the Board of Directors, which is comprised solely of independent directors, has oversight responsibility for our
financial reporting process and the audits of our consolidated financial statements and internal control over financial reporting. The
Audit Committee meets regularly with management and with our internal auditors and independent registered public accounting firm
(collectively, the “auditors”) to review matters related to the quality and integrity of our financial reporting, internal control over financial
reporting (including compliance matters related to our Code of Ethics and Business Conduct), and the nature, extent, and results of
internal and external audits. Our auditors have full and free access and report directly to the Audit Committee. The Audit Committee
recommended, and the Board of Directors approved, that the audited consolidated financial statements be included in this Form 10-K.
Brian L. Roberts Michael J. Angelakis Lawrence J. Salva
Chairman and CEO Executive Vice President,
Chief Financial Officer
Senior Vice President,
Chief Accounting Officer
and Controller
37 Comcast 2007 Annual Report on Form 10-K