Royal Caribbean Cruise Lines 2010 Annual Report Download - page 57

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2010 ANNUAL REPORT 54
PART II
ITEM 9. CHANGES IN AND DISAGREEMENTS
WITH ACCOUNTANTS ON ACCOUNTING AND
FINANCIAL DISCLOSURE
None.
ITEM 9A. CONTROLS AND PROCEDURES
EVALUATION OF DISCLOSURE CONTROLS
AND PROCEDURES
Our management, with the participation of our
Chairman and Chief Executive Officer and our
Executive Vice President and Chief Financial Officer,
conducted an evaluation of the effectiveness of our
disclosure controls and procedures, as such term is
defined in Exchange Act Rule 13a-15(e), as of the end
of the period covered by this report. Based upon such
evaluation, our Chairman and Chief Executive Officer
and Executive Vice President and Chief Financial
Officer concluded that those controls and procedures
are effective to provide reasonable assurance that
information required to be disclosed by us in the
reports that we file or submit under the Exchange Act
is accumulated and communicated to management,
including our Chairman and Chief Executive Officer
and our Executive Vice President and Chief Financial
Officer, as appropriate, to allow timely decisions
regarding required disclosure and are effective to
provide reasonable assurance that such information
is recorded, processed, summarized and reported
within the time periods specified by the SEC’s rules
and forms.
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
Rule 13a-15(f). Our management, with the participation
of our Chairman and Chief Executive Officer and our
Executive Vice President and Chief Financial Officer,
conducted an evaluation of the effectiveness of our
internal control over financial reporting based on the
framework 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 December 31,
2010. The effectiveness of our internal control over
financial reporting as of December 31, 2010 has been
audited by PricewaterhouseCoopers LLP, the inde-
pendent registered certified public accounting firm
that audited our consolidated financial statements
included in this Annual Report on Form 10-K, as stated
in its report, which is included herein on page 62.
CHANGES IN INTERNAL CONTROLS 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 during the quarter ended December 31,
2010 that have materially affected or are reasonably
likely to materially affect our internal control over
financial reporting.
INHERENT LIMITATIONS ON EFFECTIVENESS
OF CONTROLS
It should be noted that any system of controls, how-
ever well designed and operated, can provide only
reasonable, and not absolute, assurance that the
objectives of the system will be met. In addition, the
design of any control system is based in part upon
certain assumptions about the likelihood of future
events. Because of these and other inherent limita-
tions of control systems, there is only the reasonable
assurance that our controls will succeed in achieving
their goals under all potential future conditions.
ITEM 9B. OTHER INFORMATION
None.