US Airways 2005 Annual Report Download - page 209

Table of Contents
Item 8C. Financial Statements and Supplementary Data of US Airways, Inc.
Management's Annual Report on Internal Control over Financial Reporting
Management of US Airways is responsible for establishing and maintaining adequate internal control over financial reporting as defined in
Rules 13a-15(f) and 15d-15(f) under the Securities Exchange Act of 1934, as amended. US Airways' internal control over financial reporting is designed to
provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance
with generally accepted accounting principles. US Airways' internal control over financial reporting includes those policies and procedures that:
• pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of
US Airways;
• 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 US Airways are being made only in accordance with authorizations of
management and directors of US Airways; and
• provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of US Airways' 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.
Management assessed the effectiveness of US Airways' internal control over financial reporting as of December 31, 2005. In making this assessment,
management used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) in Internal Control-Integrated
Framework.
Based on our assessment and those criteria, management concludes that US Airways maintained effective internal control over financial reporting as of
December 31, 2005.
US Airways' independent registered public accounting firm has issued an audit report on management's assessment of US Airways' internal control over
financial reporting. That report has been included herein. 203