Oracle 2007 Annual Report Download - page 65

Table of Contents
Item 9A. Controls and Procedures
Evaluation of Disclosure Controls and Procedures
As of the end of the period covered by this Annual Report on Form 10-K, we carried out an evaluation under the
supervision and with the participation of our Disclosure Committee and our management, including the Chief
Executive Officer and the Chief Financial Officer, of the effectiveness of the design and operation of our disclosure
controls and procedures pursuant to Exchange Act Rules 13a-15(e) and 15d-15(e). Disclosure controls are procedures
that are designed to ensure that information required to be disclosed in our reports filed under the Securities
Exchange Act of 1934, or the Exchange Act, such as this Annual Report on Form 10-K, is recorded, processed,
summarized and reported within the time periods specified by the U.S. Securities and Exchange Commission.
Disclosure controls are also designed to ensure 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 disclosure. Our quarterly evaluation of disclosure controls includes an evaluation of
some components of our internal control over financial reporting. We also perform a separate annual evaluation of
internal control over financial reporting for the purpose of providing the management report below.
The evaluation of our disclosure controls included a review of their objectives and design, our implementation of the
controls and the effect of the controls on the information generated for use in this Annual Report on Form 10-K. In
the course of the controls evaluation, we reviewed data errors or control problems identified and sought to confirm
that appropriate corrective actions, including process improvements, were being undertaken. This type of evaluation
is performed on a quarterly basis so that the conclusions of management, including our Chief Executive Officer and
Chief Financial Officer, concerning the effectiveness of the disclosure controls can be reported in our periodic reports
on Form 10-Q and Form 10-K. Many of the components of our disclosure controls are also evaluated on an ongoing
basis by both our internal audit and finance organizations. The overall goals of these various evaluation activities are
to monitor our disclosure controls and to modify them as necessary. We intend to maintain our disclosure controls as
dynamic processes and procedures that we adjust as circumstances merit.
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.
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 Exchange Act Rules 13a-15(f) and 15d-15(f). Under the supervision and with the participation
of our management, including our Chief Executive Officer and Chief Financial Officer, we conducted an evaluation
of the effectiveness of our internal control over financial reporting as of May 31, 2008 based on the guidelines
established in Internal Control—Integrated Framework issued by the Committee of Sponsoring Organizations of the
Treadway Commission (COSO). Our internal control over financial reporting includes policies and procedures that
provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial
statements for external reporting purposes in accordance with U.S. generally accepted accounting principles.
Based on the results of our evaluation, our management concluded that our internal control over financial reporting
was effective as of May 31, 2008. We reviewed the results of management’s assessment with our Finance and Audit
Committee.
The effectiveness of our internal control over financial reporting as of May 31, 2008 has been audited by Ernst &
Young LLP, an independent registered public accounting firm, as stated in their report which is included in Part IV,
Item 15 of this Annual Report.
Changes in Internal Control over Financial Reporting
There were no changes in our internal control over financial reporting identified in connection with the evaluation
required by paragraph (d) of Exchange Act Rules 13a-15 or 15d-15 that occurred during our last fiscal quarter that
have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
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Source: ORACLE CORP, 10-K, July 02, 2008 Powered by Morningstar® Document Research℠