Neiman Marcus 2004 Annual Report Download - page 79

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MANAGEMENT'S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING
We are responsible for the integrity and objectivity of the financial and operating information contained in this Annual Report, including the consolidated
financial statements covered by the Report of Independent Registered Public Accounting Firm. These statements were prepared in conformity with generally
accepted accounting principles and include amounts that are based on our best estimates and judgment.
We maintain a system of internal controls which provides management with reasonable assurance that transactions are recorded and executed in
accordance with its authorizations, assets are properly safeguarded and accounted for, and records are maintained so as to permit preparation of financial
statements in accordance with generally accepted accounting principles. This system includes written policies and procedures, an organizational structure that
segregates duties, financial reviews and a comprehensive program of periodic audits by the internal auditors. We have also instituted policies and guidelines
which require employees to maintain a high level of ethical standards.
In addition, the Audit Committee of the Board of Directors, consisting solely of outside directors, meets periodically with management, the internal
auditors and the independent registered public accounting firm to review internal accounting controls, audit results and accounting principles and practices
and annually recommends to the Board of Directors the selection of the independent registered public accounting firm.
We are responsible for establishing and maintaining adequate internal control over financial reporting as defined in Rule 13a-15(f) under the Securities
Exchange Act of 1934. Under our supervision and with the participation of other key members of our management, we conducted an evaluation of the
effectiveness of our internal control over financial reporting based on the framework and criteria established in Internal Control—Integrated Framework,
issued by the Committee of Sponsoring Organizations of the Treadway Commission. Based on this evaluation, management concluded that our internal
control over financial reporting was effective as of July 30, 2005. During its assessment, management did not identify any material weaknesses in our internal
control over financial reporting.
Deloitte & Touche LLP, the independent registered public accounting firm that audited our consolidated financial statements included in this Annual
Report on Form 10-K, has issued an unqualified attestation report on management's assessment of internal control over financial reporting.
BURTON M. TANSKY
President and Chief Executive Officer
JAMES E. SKINNER
Senior Vice President and Chief Financial Officer
T. DALE STAPLETON
Vice President and Controller
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