Western Union 2011 Annual Report Download - page 157

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ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
FINANCIAL DISCLOSURE
None.
ITEM 9A. CONTROLS AND PROCEDURES
Evaluation of Disclosure Controls and Procedures
Our management, under the supervision and with the participation of the Principal Executive Officer and
Principal Financial Officer, have evaluated the effectiveness of our controls and procedures related to our
reporting and disclosure obligations as of December 31, 2011, which is the end of the period covered by this
Annual Report on Form 10-K. Based on that evaluation, the Principal Executive Officer and Principal Financial
Officer have concluded that, as of December 31, 2011, the disclosure controls and procedures were effective to
ensure that information required to be disclosed by us, including our consolidated subsidiaries, in the reports we
file or submit under the Exchange Act, is recorded, processed, summarized and reported, as applicable, within the
time periods specified in the rules and forms of the Securities and Exchange Commission, and are designed to
ensure that information required to be disclosed by us in the reports that we file or submit are accumulated and
communicated to our management, including our Principal Executive Officer and Principal Financial Officer, to
allow timely decisions regarding required disclosure.
Management’s Annual Report on Internal Control Over Financial Reporting
Management’s report on Western Union’s internal control over financial reporting (as such term is defined in
Rules 13a-15(f) and 15d-15(f) under the Securities Exchange Act of 1934), and the related Report of Independent
Registered Public Accounting Firm, are set forth under Item 8 of this Annual Report on Form 10-K.
Management’s annual report on internal control over financial reporting did not include an assessment of and
conclusion on the effectiveness of internal control over financial reporting of Travelex Global Business Payments
(“TGBP”), which was acquired on November 7, 2011 and is included in our consolidated financial statements as
of December 31, 2011 and for the period from November 7, 2011 through December 31, 2011. The assets of
TGBP, excluding goodwill and other intangible assets, net, constituted approximately 3% of our total assets as of
December 31, 2011, and TGBP revenues constituted approximately 0.6% of our total revenues for the year ended
December 31, 2011. Under guidelines established by the Securities and Exchange Commission, companies are
allowed to exclude acquisitions from their assessment of internal control over financial reporting during the first
year following the acquisition while integrating the acquired company.
Changes in Internal Control over Financial Reporting
There has not been any change in our internal control over financial reporting during our most recently
completed fiscal quarter that has materially affected, or is reasonably likely to materially affect, our internal
controls over financial reporting.
ITEM 9B. OTHER INFORMATION
None.
150