Supercuts 2005 Annual Report Download - page 99

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Because of inherent limitations, disclosure controls and procedures and internal control over financial reporting may not prevent or detect
misstatements. Also, 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.
Management’s Annual Report on Internal Control over Financial Reporting
Management is responsible for establishing and maintaining adequate internal control over financial reporting for the Company.
Management conducted an evaluation of the effectiveness of 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 (COSO). Based on this
evaluation, management concluded that the Company’s internal control over financial reporting was effective as of June 30, 2005.
Management’s assessment of the effectiveness of the Company’s internal control over financial reporting as of June 30, 2005 has been audited
by PricewaterhouseCoopers LLP, an independent registered public accounting firm, as stated in their report which is included in Item 8 hereof.
Changes in Internal Controls
There were no changes in the Company’s internal controls or, to the knowledge of management of the Company, in other factors that
could significantly affect internal controls over financial reporting that occurred during the Company’s fiscal quarter ended June 30, 2005
based on the Company’s most recent evaluation of its disclosure controls and procedures utilized to compile information included in this filing.
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