Dollar Rent A Car 2011 Annual Report Download - page 89

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ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING
AND FINANCIAL DISCLOSURE
Table of Contents
None.
ITEM 9A. CONTROLS AND PROCEDURES
Table of Contents
Disclosure Controls and Procedures
The Company maintains a set of disclosure controls and procedures designed to ensure that information required to be disclosed by the Company in
reports that it files or submits under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods
specified in Securities and Exchange Commission (“SEC”) rules and forms. The disclosure controls and procedures are also designed with the
objective of ensuring such information is accumulated and communicated to the Company’s management, including the Chief Executive Officer
(“CEO”) and Chief Financial Officer (“CFO”), as appropriate, to allow timely decisions regarding required disclosures. In designing and evaluating
the disclosure controls and procedures, management recognized that disclosure controls and procedures, no matter how well conceived and operated,
can provide only reasonable, not absolute, assurance that the objectives of the disclosure controls and procedures are met. Additionally, in designing
the disclosure controls and procedures, the Company’s management was required to apply its judgment in evaluating the cost-benefit relationship of
possible disclosure controls and procedures.
As required by SEC Rule 13a-15(b), the Company carried out an evaluation, under the supervision and with the participation of the Company’s
management, including the CEO and CFO, of the effectiveness of the design and operation of the Company’s disclosure controls and procedures as
of the end of the period covered by this report. Based on that evaluation, the CEO and CFO have concluded that the Company’s disclosure controls
and procedures are effective at the reasonable assurance level as of the end of the period covered by this report.
Internal Control Over Financial Reporting
Management’s Annual Report on Internal Control Over Financial Reporting
The management of the Company is responsible for establishing and maintaining adequate internal control over financial reporting. The internal
control system was designed to provide reasonable assurance to the Company’s management and board of directors regarding the preparation and fair
presentation of published financial statements.
All internal control systems, no matter how well designed, have inherent limitations. Therefore, even those systems determined to be effective can
provide only reasonable assurance with respect to financial statement preparation and presentation.
The Company’s management assessed the effectiveness of the Company’s internal control over financial reporting as of December 31, 2011. In
making this assessment, the Company used the criteria for effective internal control over financial reporting set forth in Internal Control – Integrated
Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Based on management’s assessment,
management asserts that as of December 31, 2011, the Company’s internal control over financial reporting is effective based on those criteria.
Ernst & Young LLP has issued its report with respect to the Company’s internal control over financial reporting, which appears below under
“Attestation Report of the Independent Registered Public Accounting Firm”.
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