United Airlines 2007 Annual Report Download - page 147

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UAL Corporation Management Report on Internal Control Over Financial Reporting
February 27, 2008
To the Stockholders of UAL Corporation
Chicago, Illinois
The management of UAL Corporation and subsidiaries ("UAL") is responsible for establishing and maintaining adequate internal control over financial
reporting, as such term is defined in Exchange Act Rules 13a-15(f). Our 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. 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.
Under the supervision and with the participation of management, including our Chief Executive Officer and Chief Financial Officer, we conducted an
evaluation of the design and operating effectiveness of our internal control over financial reporting as of December 31, 2007. In making this assessment,
management used the framework set forth in Internal Control—Integrated Framework issued by the Committee of the Sponsoring Organizations of the
Treadway Commission. Based on this evaluation, our Chief Executive Officer and Chief Financial Officer concluded that our internal controls over financial
reporting were effective as of December 31, 2007.
During the fiscal year ended December 31, 2007, management designed and implemented remediation steps over an income tax accounting material
weakness previously reported in our Annual Report on Form 10-K dated March 16, 2007, as described within Item 9A.
Our independent registered public accounting firm, Deloitte & Touche LLP, who audited UAL's consolidated financial statements included in this
Form 10-K, has issued a report on UAL's internal control over financial reporting, which is included herein.
138
Source: UNITED AIR LINES INC, 10-K, February 29, 2008