US Airways 2010 Annual Report Download - page 146
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Table of Contents
Management's Annual Report on Internal Control over Financial Reporting
Management of US Airways, Inc. 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, 2010. In making
this assessment, management used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission 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, 2010.
US Airways' independent registered public accounting firm has issued an audit report on the effectiveness of US Airways' internal
control over financial reporting. That report has been included herein.
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