CompUSA 2013 Annual Report Download - page 39

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Management, including the Company’s Chief Executive Officer and Chief Financial Officer, does not expect that the Company’
s internal
controls will prevent or detect all errors and all fraud. A control system, no matter how well designed and operated, can provide only reasonable,
not absolute, assurance that the objectives of the control system are met. Further, the design of a control system must reflect the fact that there
are resource constraints, and the benefits of controls must be considered relative to their costs. Because of the inherent limitations in all control
systems, no evaluation of internal controls can provide absolute assurance that all control issues and instances of fraud, if any, have been
detected. Also, any evaluation of the effectiveness of controls in future periods are subject to the risk that those internal controls may become
inadequate because of changes in business conditions, or that the degree of compliance with the policies or procedures may deteriorate.
Management’s Report on Internal Control Over Financial Reporting
The Company’s management is responsible for establishing and maintaining adequate internal control over financial reporting.
Under the
supervision and with the participation of the Company’
s management, including the Chief Executive Officer and Chief Financial Officer, the
Company evaluated the effectiveness of the design and operation of its 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
(“1992 framework”). Based on that evaluation, the Company’
s Chief Executive Officer and Chief Financial Officer concluded that the
Company’s internal control over financial reporting was effective as of December 31, 2013.
The Company’
s independent registered public accounting firm, Ernst & Young LLP, has issued an attestation report on the effectiveness of the
Company’s internal control over financial reporting as of December 31, 2013, a copy of which is included in this report on Form 10-K.
Changes in Internal Control Over Financial Reporting
There have been no changes in the Company’
s internal controls over financial reporting for the quarter ended December 31, 2013 that have
materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.
Item 9B. Other Information.
None.
35
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