Barnes and Noble 2007 Annual Report Download - page 45

REPORTS OF MANAGEMENT
MANAGEMENT’S RESPONSIBILITY FOR
CONSOLIDATED FINANCIAL STATEMENTS
The management of Barnes & Noble, Inc. is respon-
sible for the contents of the Consolidated Financial
Statements, which are prepared in conformity with
accounting principles generally accepted in the
United States of America. The Consolidated Financial
Statements necessarily include amounts based on judg-
ments and estimates. Financial information elsewhere
in the Annual Report is consistent with that in the
Consolidated Financial Statements.
The Company maintains a comprehensive accounting
system which includes controls designed to provide
reasonable assurance as to the integrity and reliability
of the fi nancial records and the protection of assets.
An internal audit staff is employed to regularly test
and evaluate both internal accounting controls and
operating procedures, including compliance with the
Company’s statement of policy regarding ethical and
lawful conduct. The Audit Committee of the Board of
Directors composed of directors who are not members
of management, meets regularly with management,
the independent auditors and the internal auditors to
ensure that their respective responsibilities are prop-
erly discharged. BDO Seidman, LLP and the Internal
Audit Department of the Company have full and free
independent access to the Audit Committee. The role of
BDO Seidman, LLP, an independent registered public
accounting fi rm, is to provide an objective examina-
tion of the Consolidated Financial Statements and
the underlying transactions in accordance with the
standards of the Public Company Accounting Oversight
Board. The report of BDO Seidman, LLP accompanies
the Consolidated Financial Statements.
MANAGEMENT’S REPORT ON INTERNAL CONTROL
OVER FINANCIAL REPORTING
The management of Barnes & Noble, Inc. is responsible
for establishing and maintaining adequate internal
control over fi nancial reporting, as such term is defi ned
in Exchange Act Rules13a-15(f) and 15d-15(f). Under the
supervision and with the participation of management,
including the principal executive offi cer and principal
fi nancial offi cer, the Company conducted an evaluation
of the eff ectiveness of the Company’s internal control
over fi nancial reporting based on the framework in
Internal Control–Integrated Framework issued by the
Committee of Sponsoring Organizations of the Treadway
Commission. Based on the Company’s evaluation
under the framework in Internal Control–Integrated
Framework, management concluded that the Company’s
internal control over fi nancial reporting was eff ective
as of February 2, 2008. Management’s assessment of
the eff ectiveness of the Company’s internal control
over fi nancial reporting as of February 2, 2008 has
been audited by BDO Seidman, LLP, an independent
registered public accounting fi rm, as stated in their
report which accompanies the Consolidated Financial
Statements. The eff ectiveness of the Company’s internal
control over fi nancial reporting as of February 2, 2008
has been independently audited by BDO Seidman, LLP,
an independent registered public accounting fi rm, and
their attestation is included herein.
OTHER INFORMATION
The Company has included the Section 302 certifi ca-
tions of the Chief Executive Offi cer and the Chief
Financial Offi cer of the Company as Exhibits 31.1 and
31.2 to its Annual Report on Form 10-K for fi scal 2007
fi led with the Securities and Exchange Commission,
and the Company has submitted to the New York Stock
Exchange a certifi cate of the Chief Executive Offi cer
of the Company certifying that he is not aware of any
violation by the Company of New York Stock Exchange
corporate governance listing standards.
REPORTS OF MANAGEMENT
MANAGEMENT’S RESPONSIBILITY FOR
CONSOLIDATED FINANCIAL STATEMENTS
The management of Barnes & Noble, Inc. is respon-
sible for the contents of the Consolidated Financial
Statements, which are prepared in conformity with
accounting principles generally accepted in the
United States of America. The Consolidated Financial
Statements necessarily include amounts based on judg-
ments and estimates. Financial information elsewhere
in the Annual Report is consistent with that in the
Consolidated Financial Statements.
The Company maintains a comprehensive accounting
system which includes controls designed to provide
reasonable assurance as to the integrity and reliability
of the financial records and the protection of assets.
An internal audit staff is employed to regularly test
and evaluate both internal accounting controls and
operating procedures, including compliance with the
Company’s statement of policy regarding ethical and
lawful conduct. The Audit Committee of the Board of
Directors composed of directors who are not members
of management, meets regularly with management,
the independent auditors and the internal auditors to
ensure that their respective responsibilities are prop-
erly discharged. BDO Seidman, LLP and the Internal
Audit Department of the Company have full and free
independent access to the Audit Committee. The role of
BDO Seidman, LLP, an independent registered public
accounting firm, is to provide an objective examina-
tion of the Consolidated Financial Statements and
the underlying transactions in accordance with the
standards of the Public Company Accounting Oversight
Board. The report of BDO Seidman, LLP accompanies
the Consolidated Financial Statements.
MANAGEMENT’S REPORT ON INTERNAL CONTROL
OVER FINANCIAL REPORTING
The management of Barnes & Noble, Inc. is responsible
for establishing and maintaining adequate internal
control over financial reporting, as such term is defined
in Exchange Act Rules 13a-15(f) and 15d-15(f). Under
the supervision and with the participation of manage-
ment, including the principal executive officer and
principal financial officer, the Company conducted an
evaluation of the effectiveness of the Company’s internal
control over financial reporting based on the framework
in Internal Control–Integrated Framework issued by the
Committee of Sponsoring Organizations of the Treadway
Commission. Based on the Company’s evaluation
under the framework in Internal Control–Integrated
Framework, management concluded that the Company’s
internal control over financial reporting was effective
as of February 2, 2008. Management’s assessment of
the effectiveness of the Company’s internal control
over financial reporting as of February 2, 2008 has
been audited by BDO Seidman, LLP, an independent
registered public accounting firm, as stated in their
report which accompanies the Consolidated Financial
Statements. The effectiveness of the Company’s internal
control over financial reporting as of February 2, 2008
has been independently audited by BDO Seidman, LLP,
an independent registered public accounting firm, and
their attestation is included herein.
OTHER INFORMATION
The Company has included the Section 302 certifica-
tions of the Chief Executive Officer and the Chief
Financial Officer of the Company as Exhibits 31.1 and
31.2 to its Annual Report on Form 10-K for fiscal 2007
filed with the Securities and Exchange Commission,
and the Company has submitted to the New York Stock
Exchange a certificate of the Chief Executive Officer
of the Company certifying that he is not aware of any
violation by the Company of New York Stock Exchange
corporate governance listing standards.
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