Texas Instruments 2007 Annual Report Download - page 45

Download and view the complete annual report

Please find page 45 of the 2007 Texas Instruments annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 68

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68

REPORT BY MANAGEMENT ON INTERNAL CONTROL OVER FINANCIAL REPORTING
TEXAS INSTRUMENTS 2007 ANNUAL REPORT 43
The management of TI is responsible for establishing and maintaining adequate internal control over financial reporting. TI’s internal
control system was designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation and fair
presentation of financial statements issued for external purposes in accordance with generally accepted accounting principles.
All internal control systems, no matter how well designed, have inherent limitations and may not prevent or detect misstatements.
Also, projections of any evaluation of effectiveness to future time 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.
TI management assessed the effectiveness of internal control over financial reporting as of December 31, 2007. In making this
assessment, we used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (the COSO
criteria) in Internal Control – Integrated Framework. Based on our assessment we believe that, as of December 31, 2007, our internal
control over financial reporting is effective based on the COSO criteria.
TI’s independent registered public accounting firm, Ernst & Young LLP, has issued an audit report on the effectiveness of our internal
control over financial reporting, which immediately follows this report.