Pep Boys 2008 Annual Report Download - page 150

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MANAGEMENT’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING
Management of The Pep Boys-Manny, Moe and Jack (the Company) is responsible for establishing
and maintaining adequate internal control over financial reporting. The Company’s internal control
over financial reporting is a process designed under the supervision of the Company’s principal
executive officer and principal financial officer to provide reasonable assurance regarding the reliability
of financial reporting and the preparation of the Company’s financial statements for external purposes
in accordance with accounting principles generally accepted in the United States of America.
The Company’s internal control over financial reporting includes policies and procedures that
(1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the
transactions and dispositions of the assets of the Company; (2) provide reasonable assurance that
transactions are recorded as necessary to permit preparation of financial statements in accordance with
generally accepted accounting principles, and that receipts and expenditures of the Company are being
made only in accordance with authorizations of management and directors of the Company; and
(3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition,
use, or disposition of the Company’s assets that could have a material effect on the financial
statements.
As of January 31, 2009, management assessed the effectiveness of the Company’s internal control
over financial reporting as of January 31, 2009 based on the criteria established in Internal Control—
Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway
Commission (COSO). Based on this assessment, management determined that the Company’s internal
control over financial reporting as of January 31, 2009 was effective.
Deloitte & Touche LLP, the Company’s independent registered public accounting firm, has issued
an attestation report, which is included on page 87 herein, on the Company’s internal control over
financial reporting as of January 31, 2009.
86