JCPenney 2004 Annual Report Download - page 25

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J.C. PENNEY COMPANY, INC.2 004 ANNUAL REPORT
23
The management of J. C. Penney Company, Inc. is responsi-
ble for establishing and maintaining adequate internal control
over financial reporting.
J. C. Penney Company, Inc. management has assessed the
effectiveness of the Company’s internal control over financial
reporting as of January 29, 2005. In making this assessment,
management used criteria set forth by the Committee of
Sponsoring Organizations of the Treadway Commission (COSO)
in
Internal Control – Integrated Framework
. Based on its assess-
ment, management of J. C. Penney Company, Inc. believes that,
as of January 29, 2005, the Company’s internal control over
financial reporting is effective based on those criteria.
KPMG LLP, the registered public accounting firm that audited
the financial statements included in this 2004 Annual Report to
Stockholders, has issued an attestation report on management’s
assessment of the Company’s internal control over financial
reporting. This report appears on page 24.
Robert B. Cavanaugh
Executive Vice President and Chief Financial Officer
Myron E. Ullman, III
Chairman and Chief Executive Officer
MANAGEMENT’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING