NetSpend 2011 Annual Report Download - page 56

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Table of Contents
effectiveness of any system of internal control over financial reporting. These limitations include the possibility of human error, the
circumvention or overriding of the system and reasonable resource constraints. Because of its inherent limitations, our internal control over
financial reporting may not prevent or detect misstatements. Projections of any evaluation of effectiveness to future periods are subject to the
risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures
may deteriorate.
Based on management's assessment, management has concluded that the Company's internal control over financial reporting was effective
as of December 31, 2011.
The effectiveness of our internal control over financial reporting as of December 31, 2011 has been audited by KPMG LLP, an
independent registered public accounting firm, and their opinion appears on page 62 as part of our consolidated financial statements.
Changes in Internal Control Over Financial Reporting
There were no changes in our internal control over financial reporting that occurred during the year ended December 31, 2011 that have
materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
Limitations on the Effectiveness of Controls
Control systems, no matter how well conceived and operated, are designed to provide a reasonable, but not an absolute, level of 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, have been detected. Because of the inherent
limitations in any control system, misstatements due to error or fraud may occur and not be detected.
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