LinkedIn 2015 Annual Report Download - page 133

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Item 9. Changes in and Disagreements with Accountants on Accounting and Financial
Disclosure
None.
Item 9A. Controls and Procedures
Disclosure Controls and Procedures
As of the end of the period covered by this report, our management conducted an evaluation,
under the supervision and with the participation of our Chief Executive Officer and Chief Financial
Officer, of the effectiveness of the design and operation of our disclosure controls and procedures, as
such term is defined in the Securities Exchange Act of 1934 (the Exchange Act). Based upon that
evaluation, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure
controls and procedures were effective as of the end of the period covered by this report in ensuring
that information required to be disclosed was recorded, processed, summarized and reported within the
time periods specified in the SEC’s rules and forms, and to provide reasonable assurance that
information required to be disclosed by us in such reports is accumulated and communicated to our
management, including our Chief Executive Officer and Chief Financial Officer, as appropriate to allow
timely decisions regarding required disclosure.
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 the Exchange Act. Under the supervision and with the
participation of our Chief Executive Officer and Chief Financial Officer, our management conducted an
evaluation of the effectiveness of our internal control over financial reporting based upon the framework
in ‘‘Internal Control—Integrated Framework (2013)’’ issued by the Committee of Sponsoring
Organizations of the Treadway Commission. Our management’s evaluation of internal control over
financial reporting excluded the internal control activities of lynda.com, Inc. (‘‘Lynda.com’’), which we
acquired on May 14, 2015, and whose financial statements constitute 1.5% of net assets and 3.5% of
net revenue of our consolidated financial statement amounts as of and for the year ended
December 31, 2015. Based on that evaluation, management concluded that our internal control over
financial reporting was effective as of December 31, 2015.
Deloitte & Touche LLP, an independent registered public accounting firm, has audited the
consolidated financial statements included in this Form 10-K and, as part of the audit, has issued a
report, included herein, on the effectiveness of LinkedIn’s internal control over financial reporting as of
December 31, 2015.
Changes in Internal Control over Financial Reporting
During the fourth quarter of fiscal 2015, there were no changes in the internal control over financial
reporting that materially affected, or are reasonably likely to materially affect, LinkedIn’s internal control
over financial reporting.
Inherent Limitations of Disclosure Controls and Procedures and Internal Control over Financial
Reporting
It should be noted that any system of controls, however well designed and operated, can provide
only reasonable, and not absolute, assurance that the objectives of the system will be met. In addition,
the design of any control system is based in part upon certain assumptions made by management
about the likelihood of future events.
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