WeightWatchers 2007 Annual Report Download - page 59

Each of our subsidiaries, other than WeightWatchers.com, derives revenues and incurs expenses primarily
within a single country and, consequently, does not generally incur currency risks in connection with the conduct
of normal business operations.
Item 8. Financial Statements and Supplementary Data
This information is incorporated by reference to our consolidated financial statements on pages F-1 through
F-32, including the report thereon of PricewaterhouseCoopers LLP on page F-2.
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
None.
Item 9A. Controls and Procedures
Disclosure Controls and Procedures
We maintain disclosure controls and procedures that are designed to ensure that information required to be
disclosed in our reports under the Exchange Act is recorded, processed, summarized and reported within the time
periods specified in the Securities and Exchange Commission’s rules and forms, and that such information is
accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial
Officer, as appropriate, to allow timely decisions regarding required disclosures. Any controls and procedures, no
matter how well designed and operated, can provide only reasonable assurance of achieving the desired control
objectives. Our management, with the participation of our Chief Executive Officer and Chief Financial Officer,
has evaluated the effectiveness of the design and operation of our disclosure controls and procedures as of the
end of the period covered by this report. Based upon that evaluation and subject to the foregoing, our Chief
Executive Officer and Chief Financial Officer concluded that the design and operation of our disclosure controls
are effective at the reasonable assurance level.
In addition, there was no change in our internal control over financial reporting that occurred during the
most recent fiscal quarter (the fourth fiscal quarter in the case of an annual report) that has materially affected, or
is reasonable likely to materially affect our internal control over financial reporting.
In fiscal 2007, we have upgraded some of our information systems, which resulted in the automation of
certain key processes. As we migrated to this new environment, our management has taken appropriate actions to
ensure the continuity of key controls, and the transitions were reviewed as part of our testing of internal controls
as they relate to the reliability of financial reporting and the preparation and fair presentation of our consolidated
financial statements.
Management’s Report on Internal Control Over Financial Reporting
Our management is responsible for establishing and maintaining adequate internal control over financial
reporting. Internal control over financial reporting is a process designed under the supervision and with the
participation of our management, including our principal executive officer and principal financial officer, to
provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial
statements for external purposes in accordance with accounting principles generally accepted in the United States
of America.
Our management assessed the effectiveness of our internal control over financial reporting as of
December 29, 2007, the end of fiscal 2007. In making this assessment, our management used the criteria set forth
by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) in Internal
Control-Integrated Framework. Based on this assessment, management, under the supervision and with the
participation of our principal executive officer and principal financial officer, concluded that, as of December 29,
2007, our internal control over financial reporting was effective based on those criteria.
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