Frontier Airlines 2007 Annual Report Download - page 86

15. VALUATION AND QUALIFYING ACCOUNTS
Description
Balance at
Beginning
Of Year
Additions
Charged to
Expense Deductions (1)
Balance at
End
of Year
Allowance for doubtful accounts receivables:
December 31, 2007 $ 340 $ 607 $ (50) $ 897
December 31, 2006 343 — (3) 340
December 31, 2005 3,869 87 (3,613) (2) 343
(1) Uncollectible accounts written off net of recoveries, if any.
(2) Write off of US Airways receivable.
ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL
DISCLOSURE
There were no disagreements with accountants on accounting and financial disclosure.
ITEM 9A. CONTROLS AND PROCEDURES
Evaluation of Disclosure Controls and Procedures.
We maintain "disclosure controls and procedures", as such term is defined under Securities Exchange Act Rule 13a-15(e),
that are designed to ensure that information required to be disclosed in our Exchange Act reports is recorded, processed, summarized
and reported within the time periods specified in the SEC's rules and forms, and that such information is accumulated and
communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely
decisions regarding required disclosures. In designing and evaluating the disclosure controls and procedures, our management
recognized that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of
achieving the desired control objectives and our management necessarily was required to apply its judgment in evaluating the
cost-benefit relationship of possible controls and procedures. We have carried out an evaluation, as of the end of the period covered by
this report, under the supervision and with the participation of our management, including our Chief Executive Officer and Chief
Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures. Based upon their
evaluation and subject to the foregoing, the Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls
and procedures were effective in ensuring that material information relating to us is made known to the Chief Executive Officer and
Chief Financial Officer by others within the Company during the period in which this report was being prepared.
Management’s Annual Report on Internal Control Over Financial Reporting
Management is responsible for establishing and maintaining adequate internal control over financial reporting, as such term
is defined in Rules 13a-15(f) and 15d-15(f) under the Securities Exchange Act of 1934. Our internal control over financial reporting is
designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for
external purposed in accordance with accounting principles generally accepted in the United States of America.
Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements.
Projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of
changes in conditions, or that the degree of compliance with the policies may deteriorate.
Under the supervision and with the participation of the Company’s Chief Executive Officer and Chief Financial Officer, the
Company’s management conducted an evaluation of the effectiveness of our internal control over financial reporting as of December
31, 2007 using the criteria issued by the Committee of Sponsoring Organizations of the Treadway Commission in Internal
Control-Integrated Framework. Based on that evaluation, the Company’s management concluded that our internal control over
financial reporting was effective as of December 31, 2007.
Management’s assessment of the effectiveness of our internal control over financial reporting as of December 31, 2007 has
been audited by Deloitte & Touche LLP, an independent registered public accounting firm, which also audited our Consolidated
Financial Statements. Deloitte & Touche LLP’s report on management’s assessment of internal control over financial reporting
appears on page 50 herein.
ITEM 9B. OTHER INFORMATION
Not applicable.
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Source: REPUBLIC AIRWAYS HOLDINGS INC, 10-K, February 21, 2008 Powered by Morningstar® Document Research℠