Charles Schwab 2008 Annual Report Download - page 96

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THE CHARLES SCHWAB CORPORATION
Management’s Report on Internal Control Over Financial Reporting
Management of The Charles Schwab Corporation, together with its subsidiaries (the Company), is responsible for establishing
and maintaining adequate internal control over financial reporting. The Company’s internal control over financial reporting is
a process designed under the supervision of and effected by the Company’s chief executive officer and chief financial officer
to provide reasonable assurance regarding the reliability of financial reporting and the preparation of published financial
statements in accordance with accounting principles generally accepted in the United States of America.
As of December 31, 2008, management conducted an assessment of the effectiveness of the Company’s internal control over
financial reporting based on the framework established in Internal Control – Integrated Framework issued by the Committee
of Sponsoring Organizations of the Treadway Commission. Based on this assessment, management has determined that the
Company’s internal control over financial reporting was effective as of December 31, 2008.
The Company’s internal control over financial reporting includes policies and procedures that pertain to the maintenance of
records that, in reasonable detail, accurately and fairly reflect transactions and dispositions of assets; provide reasonable
assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with
accounting principles generally accepted in the United States of America, and that receipts and expenditures are being made
only in accordance with authorizations of management and the directors of the Company; and provide reasonable assurance
regarding prevention or timely detection of unauthorized acquisition, use or disposition of the Company’s assets that could
have a material effect on the Company’s financial statements.
The Company’s internal control over financial reporting as of December 31, 2008 has been audited by Deloitte & Touche
LLP, an independent registered public accounting firm, as stated in their report appearing on the previous page.
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