Hertz 2012 Annual Report Download - page 193

ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
FINANCIAL DISCLOSURE
None.
ITEM 9A. Controls and Procedures
Evaluation of Disclosure Controls and Procedures
Disclosure controls and procedures are controls and other procedures that are designed to ensure that
information required to be disclosed in company reports filed or submitted under the Securities
Exchange Act of 1934, or the ‘‘Exchange Act,’’ is recorded, processed, summarized and reported within
the time periods specified in the SEC’s rules and forms. Disclosure controls and procedures include,
without limitation, controls and procedures designed to ensure that information required to be disclosed
in company reports filed under the Exchange Act is accumulated and communicated to management,
including our Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely decisions
regarding required disclosure.
An evaluation of the effectiveness of our disclosure controls and procedures was performed under the
supervision of, and with the participation of, management, including our Chief Executive Officer and
Chief Financial Officer, as of the end of the period covered by this Annual Report. Based upon this
evaluation, our Chief Executive Officer and Chief Financial Officer, concluded that our disclosure
controls and procedures are effective.
Management’s Report on Internal Control Over Financial Reporting
Our management is responsible for establishing and maintaining adequate internal control over financial
reporting, as such term is defined in Rule 13a-15(f) under the Exchange Act, as amended. Our internal
control over financial reporting is a process designed to provide reasonable assurance regarding the
reliability of financial reporting and the preparation of financial statements for external purposes in
accordance with generally accepted accounting principles.
Because of its inherent limitations, internal control over financial reporting may not prevent or detect
misstatements. Also, 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 or procedures may deteriorate.
Under the supervision and with the participation of our management, including our Chief Executive
Officer and Chief Financial Officer, we conducted an assessment of the effectiveness of our internal
control over financial reporting as of December 31, 2012. The assessment was based on criteria
established in the framework Internal Control—Integrated Framework, issued by the Committee of
Sponsoring Organizations of the Treadway Commission. We have excluded from our evaluation the
internal controls over financial reporting of Dollar Thrifty Automotive Group, Inc., or ‘‘Dollar Thrifty,’’
which was acquired on November 19, 2012. The total assets and total revenues of the excluded
business represented 21% and 2%, respectively, of the related consolidated financial statement
amounts as of and for the year ended December 31, 2012. Based on this assessment, management
concluded that our internal control over financial reporting was effective as of December 31, 2012.
PricewaterhouseCoopers LLP, our independent registered public accounting firm, has issued an
attestation report on our internal control over financial reporting. Their report is included in this Annual
Report under the caption ‘‘Item 8—Financial Statements and Supplementary Data.’’
Changes in Internal Control Over Financial Reporting
No changes in our internal control over financial reporting occurred during the fiscal quarter ended
December 31, 2012 that have materially affected, or are reasonably likely to materially affect, our internal
control over financial reporting.
ITEM 9B. OTHER INFORMATION
None.
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