United Airlines 2007 Annual Report Download - page 146

ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE.
None.
ITEM 9A. CONTROLS AND PROCEDURES.
UAL and United each maintain controls and procedures that are designed to ensure that information required to be disclosed in the reports filed or submitted
by UAL and United to the Securities and Exchange Commission ("SEC") is recorded, processed, summarized, and reported, within the time periods specified by
the SEC's rules and forms, and is accumulated and communicated to management including the Chief Executive Officer and Chief Financial Officer as
appropriate to allow timely decisions regarding required disclosure. The management of UAL and United, including the Chief Executive Officer and Chief
Financial Officer, performed an evaluation to conclude with reasonable assurance that UAL's and United's disclosure controls and procedures were designed and
operating effectively to report the information each company is required to disclose in the reports they file with the SEC on a timely basis. Based on that
evaluation, the Chief Executive Officer and the Chief Financial Officer of UAL and United have concluded that as of December 31, 2007, disclosure controls and
procedures were effective.
Changes in Internal Control over Financial Reporting during the Quarter Ended December 31, 2007
There were no changes in UAL's or United's internal control over financial reporting during their most recent fiscal quarter that materially affected, or is
reasonably likely to materially affect, their internal control over financial reporting, except that UAL and United designed and implemented procedures that
resulted in remediation of the income tax accounting material weakness previously reported in their 2006 Annual Reports on Form 10-K and 2007 Quarterly
Reports on Form 10-Q. These remediation steps were developed following investigation and review of the processes and activities surrounding the material
weakness and include changes to these processes to prevent or detect similar future occurrences.
In response to the identified material weakness, our management, with oversight from our Audit Committee, implemented a plan of remediation. As a result
of this plan, the following control improvements were made during 2007:
•
Recruited experienced, permanent tax professionals who have significant tax accounting and reporting experience;
•
Implemented programs designed to reduce staff turnover;
•
Enhanced processes and controls related to income tax accounting and reporting; and
•
Provided additional and ongoing training to our tax staff on the application of technical accounting literature to the Company's transactions.
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Source: UNITED AIR LINES INC, 10-K, February 29, 2008