Travelzoo 2007 Annual Report Download - page 87

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Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure
None.
Item 9A. Controls and Procedures
As of December 31, 2007, we carried out an evaluation, under the supervision and with the participation of the
Company’s management, including the Company’s President and Chief Executive Officer along with the
Company’s Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls
and procedures pursuant to Exchange Act Rule 13a-15(e). Based upon that evaluation, the Company’s President and
Chief Executive Officer along with the Company’s Chief Financial Officer concluded that our disclosure controls
and procedures were effective in timely alerting them to material information relating to the Company (including its
consolidated subsidiaries) required to be included in our periodic SEC filings as of December 31, 2007.
During the quarter ended December 31, 2007, there was no change in our internal control over financial
reporting (as defined in Exchange Act Rule 13a-15(f)) that materially affected, or is reasonably likely to materially
affect, the Company’s internal control over financial reporting.
Management’s Report on Internal Control Over Financial Reporting
Travelzoo’s management is responsible for establishing and maintaining adequate internal control over
financial reporting for Travelzoo Inc. Travelzoo’s internal control over financial reporting is a process designed to
provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial
statements for external purposes in accordance with U.S. generally accepted accounting principles. Travelzoo’s
internal control over financial reporting includes those policies and procedures that (i) pertain to the maintenance of
records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of
Travelzoo; (ii) 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 expen-
ditures of Travelzoo are being made only in accordance with authorizations of management and directors of
Travelzoo; and (iii) provide reasonable assurance regarding prevention or timely detection of unauthorized
acquisition, use, or disposition of Travelzoo’s assets that could have a material effect on the financial statements.
Because of its inherent limitations, 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.
Travelzoo’s management assessed the effectiveness of Travelzoo’s internal control over financial reporting as
of December 31, 2007, utilizing the criteria set forth by the Committee of Sponsoring Organizations of the
Treadway Commission (COSO) in Internal Control — Integrated Framework. Based on the assessment by
Travelzoo’s management, we determined that Travelzoo’s internal control over financial reporting was effective
as of December 31, 2007. The effectiveness of Travelzoo’s internal control over financial reporting as of
December 31, 2007 has been audited by KPMG LLP, Travelzoo’s independent registered public accounting firm,
as stated in their report which appears in Part II, Item 8 of this Annual Report on Form 10-K.
/s/ RALPH BARTEL
Ralph Bartel
Chairman of the Board and Chief Executive Officer
/s/ WAYNE LEE
Wayne Lee
Chief Financial Officer
March 17, 2008
55