Neiman Marcus 2014 Annual Report Download - page 103
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Table of Contents
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 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 August 1, 2015. During its assessment, management did not identify any material weaknesses in our
internal control over financial reporting.
Ernst & Young 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 the effectiveness of our internal controls over financial reporting as of August 1, 2015.
KAREN W. KATZ
President and Chief Executive Officer
DONALD T. GRIMES
Executive Vice President, Chief Operating Officer and Chief Financial Officer
T. DALE STAPLETON
Senior Vice President and Chief Accounting Officer
F-2