United Airlines 2007 Annual Report Download - page 148
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United Air Lines, Inc. Management Report on Internal Control Over Financial Reporting
February 27, 2008
To the Stockholder of United Air Lines, Inc.
Chicago, Illinois
The management of United Air Lines, Inc. ("United") 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 29, 2007, as described within Item 9A.
139
Source: UNITED AIR LINES INC, 10-K, February 29, 2008