Banana Republic 2005 Annual Report Download - page 37

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G A P I N C . F I N A N C I A L S 2 0 0 5
gap inc. 2005 annual report 35
MANAGEMENT’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING
Our management is responsible for establishing and maintaining adequate internal control over financial reporting, as defined in Securities Exchange
Act Rule 13a-15(f). Our system of internal control is evaluated on a cost benefit basis and is designed to provide reasonable, not absolute, assurance
that reported financial information is materially accurate.
Under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer, we conducted
an evaluation of the design and effectiveness of our internal control over financial reporting based on the Internal Control - Integrated Framework
issued by the Committee of Sponsoring Organizations (“COSO”). Based on this evaluation, our management concluded that the Company’s internal
control over financial reporting was effective as of January 28, 2006.
Management’s assessment of the effectiveness of internal control over financial reporting as of January 28, 2006 was audited by Deloitte & Touche
LLP, an independent registered public accounting firm, as stated in their report, which is included herein.