DIRECTV 2002 Annual Report Download - page 73

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HUGHES ELECTRONICS CORPORATION
RESPONSIBILITIES FOR CONSOLIDATED FINANCIAL STATEMENTS
The consolidated financial statements of Hughes Electronics Corporation (“Hughes”) and
Management’s Discussion and Analysis of Financial Condition and Results of Operations were
prepared by management, who is responsible for their integrity and objectivity. Where applicable, this
financial information has been prepared in conformity with the Securities Exchange Act of 1934, as
amended (the Exchange Act), and accounting principles generally accepted in the United States of
America. The preparation of this financial information requires the use of estimates, judgments and
assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated
financial statements and the reported amounts of revenues and expenses during the periods
presented. The critical accounting policies that may involve a higher degree of estimation, judgment
and complexity are described in Management’s Discussion and Analysis.
Management is responsible for maintaining internal controls designed to provide reasonable
assurance that the books and records reflect the transactions of Hughes and that established policies
and procedures are carefully followed. Management is further responsible for maintaining disclosure
controls and procedures (as defined in the Exchange Act) designed to ensure that information required
to be disclosed in reports filed under the Exchange Act is recorded, processed, summarized and
reported within the specified time periods. An important feature in Hughes’ system of internal controls
and disclosure controls and procedures is that both are periodically reviewed for effectiveness and are
augmented by written policies and guidelines.
The unqualified certifications of Hughes’ Chief Executive Officer and Chief Financial Officer related
to the consolidated financial statements, other financial information, internal controls and disclosure
controls are included in the Annual Report on Form 10-K filed with the United States Securities and
Exchange Commission.
Deloitte & Touche LLP, an independent auditing firm, is engaged to audit the consolidated
financial statements of Hughes and issues its report thereon. The audit is conducted in accordance
with auditing standards generally accepted in the United States of America that comprehend the
consideration of internal control and tests of transactions to the extent necessary to form an
independent opinion on the consolidated financial statements prepared by management. The
Independent Auditors’ Report appears on page 65.
The Board of Directors, through its Audit Committee, is responsible for assuring that management
fulfills its responsibilities in the preparation of the consolidated financial statements and engaging the
independent auditors. The Audit Committee reviews the scope of the audits and the accounting
principles being applied in financial reporting. The independent auditors, representatives of
management, and the internal auditors meet regularly (separately and jointly) with the Audit Committee
to review the activities of each, to ensure that each is properly discharging its responsibilities and to
assess the effectiveness of internal control. To reinforce complete independence, Deloitte & Touche
LLP has full and free access to meet with the Audit Committee, without management representatives
present, to discuss the results of the audit, the adequacy of internal controls, and the quality of financial
reporting.
/s/ H
ARRY
J. P
EARCE
Harry J. Pearce
Chairman of the
Board of Directors
/s/ J
ACK
A. S
HAW
Jack A. Shaw
Director, President and
Chief Executive Officer
/s/ M
ICHAEL
J. G
AINES
Michael J. Gaines
Vice President and
Chief Financial Officer
63