Sears 2007 Annual Report Download - page 103

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such financial statement schedule, when considered in relation to the basic consolidated financial statements
taken as a whole, presents fairly, in all material respects, the information set forth therein. Also, in our opinion,
the Company maintained, in all material respects, effective internal control over financial reporting as of
February 2, 2008, based on the criteria established in Internal Control—Integrated Framework issued by the
Committee of Sponsoring Organizations of the Treadway Commission.
As discussed in Notes 3 and 10 to the consolidated financial statements, the Company changed (a) the fiscal
year end of one of its subsidiaries to conform to the Company’s fiscal year in fiscal 2007, (b) its method of
accounting for pension and other postretirement benefits in fiscal 2006 and fiscal 2005 and (c) its method of
accounting for certain indirect buying, warehousing, and distribution costs in fiscal 2005.
/s/ D
ELOITTE
&T
OUCHE
LLP
Deloitte & Touche LLP
Chicago, Illinois
March 25, 2008
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
None.
Item 9A. Controls and Procedures
Our management, with the participation of our principal executive officers and principal financial officer,
conducted an evaluation of the effectiveness of the design and operation of our disclosure controls and
procedures, as defined in Rule 13a-15(e) under the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), as of the end of the period covered by this report (the “Evaluation Date”). Based on this evaluation, the
principal executive officer and principal financial officers concluded that, as of the Evaluation Date, our
disclosure controls and procedures were effective in ensuring that information required to be disclosed by us in
the reports that we file or submit under the Exchange Act (i) is recorded, processed, summarized and reported
within the time periods specified in the SEC’s rules and forms and (ii) is accumulated and communicated to our
management, including our principal executive and principal financial officers, as appropriate to allow timely
decisions regarding required disclosure.
In addition, based on that evaluation, no changes in our internal control over financial reporting have
occurred during our last fiscal quarter that have materially affected, or are reasonably likely to materially affect,
our internal control over financial reporting.
See Management’s Annual Report on Internal Control over Financial Reporting and the Attestation Report
of the Registered Public Accounting Firm included in Item 8 of this Report, which reports are incorporated
herein by this reference.
Item 9B. Other Information
None.
103