NetFlix 2014 Annual Report Download - page 37

Table of Contents
None.
Our management, with the participation of our Chief Executive Officer and Chief Financial Officer, evaluated the effectiveness of our
disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended) as of
the end of the period covered by this Annual Report on Form 10-K. Based on that evaluation, our Chief Executive Officer and Chief Financial
Officer concluded that our disclosure controls and procedures as of the end of the period covered by this Annual Report on Form 10-K were
effective in providing reasonable assurance that information required to be disclosed by us in reports that we file or submit under the Securities
Exchange Act of 1934, as amended, is recorded, processed, summarized and reported within the time periods specified in the Securities and
Exchange Commission’
s rules and forms, and that such information is accumulated and communicated to our management, including our Chief
Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosures.
Our management, including our Chief Executive Officer and Chief Financial Officer, does not expect that our disclosure controls and
procedures or our internal controls will prevent all error and all fraud. A control system, no matter how well conceived and operated, can
provide only reasonable, not absolute, assurance that the objectives of the control system are met. Further, the design of a control system must
reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs. Because of the inherent
limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any,
within Netflix have been detected.
Our management is responsible for establishing and maintaining adequate internal control over financial reporting (as defined in Rule
13a-15(f) of the Securities Exchange Act of 1934 as amended (the Exchange Act)). Our management assessed the effectiveness of our internal
control over financial reporting as of December 31, 2014 . In making this assessment, our management used the criteria set forth by the
Committee of Sponsoring Organizations of the Treadway Commission (“COSO”) in Internal Control—Integrated Framework (2013
framework). Based on our assessment under the framework in Internal Control—Integrated Framework (2013 framework), our management
concluded that our internal control over financial reporting was effective as of December 31, 2014 . The effectiveness of our internal control
over financial reporting as of December 31, 2014 has been audited by Ernst & Young LLP, an independent registered public accounting firm,
as stated in their report that is included herein.
There was no change in our internal control over financial reporting that occurred during the quarter ended December 31, 2014 that has
materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.
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Item 9.
Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
Item 9A.
Controls and Procedures
(a)
Evaluation of Disclosure Controls and Procedures
(b) Management’
s Annual Report on Internal Control Over Financial Reporting
(c)
Changes in Internal Control Over Financial Reporting