Hertz 2014 Annual Report Download - page 222

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We also have increased the number and quality of personnel assigned to management’s internal controls assessment process. In 2014, we hired a
Vice President of SOX Compliance and a Director of SOX Compliance. During 2014 and 2015 we have supplemented our personnel resources with
a substantial number of consulting resources experienced in controls and SOX compliance.
During 2014 and 2015, the internal audit and SOX compliance teams enhanced (i) our processes associated with the scoping and identification of
processes and key controls, (ii) the documentation of these processes and (iii) our testing procedures to promote the consistency and accuracy of
conclusions, deliverables and disclosures associated with SOX compliance. An automated tool is being implemented to monitor these activities.
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Our remediation efforts are ongoing. During the quarter ended December 31, 2014, we completed account reconciliation and internal controls
trainings for our accounting personnel, created and completed Oracle trainings, enhanced data governance and implemented changes within the
Oracle application to enhance the quality of data and the timeliness of processing financial results. There were no other material changes in our
internal control over financial reporting that occurred during the quarter ended December 31, 2014 that materially affected, or that are reasonably
likely to materially affect, our internal control over financial reporting.
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None.
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Source: HERTZ GLOBAL HOLDINGS INC, 10-K, July 16, 2015 Powered by Morningstar® Document Research℠
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