U-Haul 2006 Annual Report Download - page 129

Item 9A. Controls and Procedures
Attached as exhibits to this Form 10-K are certifications of the registrants’ Chief Executive Officer (CEO), Chief
Accounting Officer (CAO) and Chief Financial Officer (CFO), which are required in accordance with Rule 13a-14
of the Securities Exchange Act of 1934, as amended (the Exchange Act). This "Controls and Procedures" section
includes information concerning the controls and controls evaluation referred to in the certifications. Following this
discussion is the report of BDO Seidman LLP, our independent registered public accounting firm, regarding its audit
of AMERCO’ s internal control over financial reporting and of management's assessment of internal control over
financial reporting set forth below in this section. This section should be read in conjunction with the certifications
and the BDO Seidman, LLP report for a more complete understanding of the topics presented.
Evaluation of Disclosure Controls and Procedures
The Company’ s management, with the participation of the CEO, CAO, and CFO, conducted an evaluation of the
effectiveness of the design and operation of the Company’ s "disclosure controls and procedures" (as such term is
defined in the Exchange Act Rules 13a-15(e) and 15d-15(e)) (Disclosure Controls) as of the end of the period
covered by this Form 10-K. Our Disclosure Controls are designed to reasonably assure that information required to
be disclosed in our reports filed under the Exchange Act, such as this Form 10-K, is recorded, processed,
summarized and reported within the time periods specified in the SEC's rules and forms. Our disclosure Controls are
also designed to reasonably assure that such information is accumulated and communicated to our management,
including the CEO, CAO and CFO, as appropriate to allow timely decisions regarding required disclosure. Based
upon the controls evaluation, our CEO, CAO and CFO have concluded that as of the end of the period covered by
this Form 10-K, our Disclosure Controls were effective.
Management Report on Internal Control Over Financial Reporting
Our management is responsible for establishing and maintaining adequate internal control over financial reporting
(as defined in Exchange Act Rules 13a-15(f) and 15d-15(f) to provide reasonable assurance regarding the reliability
of our financial reporting and the preparation of financial statements for external purposes in accordance with
generally accepted accounting principles. 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 the Company; (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 expenditures of the Company are being made only in accordance with
authorizations of management and directors of the Company; and (iii) provide reasonable assurance regarding
prevention or timely detection of unauthorized acquisition, use or disposition of the Company's assets that could
have a material effect on the financial statements.
Management assessed our internal control over financial reporting as of March 31, 2006, the end of our fiscal
year. Management based its assessment on criteria established in Internal Control-Integrated Framework issued by
the Committee of Sponsoring Organizations of the Treadway Commission. Management's assessment included
evaluation of such elements as the design and operating effectiveness of key financial reporting controls, process
documentation, accounting policies, and our overall control environment. This assessment is supported by testing
and monitoring performed both by our Internal Audit organization and our Finance organization.
Based on our assessment, management has concluded that our internal control over financial reporting was
effective as of the end of the fiscal year. We reviewed the results of management's assessment with the Audit
Committee of our Board of Directors.
Our independent registered public accounting firm, BDO Seidman, LLP, has audited management's assessment of
the Company's internal control over financial reporting and has issued their report, which is included below.
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