Chili's 2001 Annual Report Download - page 60

Download and view the complete annual report

Please find page 60 of the 2001 Chili's annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 64

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64

MANAGEMENT’S RESPONSIBILITY FOR CONSOLIDATED FINANCIAL STATEMENTS
To Our Shareholders:
Management is responsible for the reliability of the consolidated financial statements and related
notes, which have been prepared in conformity with accounting principles generally accepted in the United
States of America and include amounts based upon our estimate and judgments, as required. The
consolidated financial statements have been audited and reported on by our independent auditors, KPMG
LLP, who were given free access to all financial records and related data, including minutes of the meetings
of the Board of Directors and Committees of the Board. We believe that the representations made to the
independent auditors were valid and appropriate.
The Company maintains a system of internal controls over financial reporting designed to provide
reasonable assurance of the reliability of the consolidated financial statements. The Company’s internal
audit function monitors and reports on the adequacy of the compliance with the internal control system
and appropriate actions are taken to address significant control deficiencies and other opportunities for
improving the system as they are identified. The Audit Committee of the Board of Directors, which is
comprised solely of outside directors, provides oversight to the financial reporting process through periodic
meetings with our independent auditors, internal auditors, and management. Both our independent
auditors and internal auditors have free access to the Audit Committee. Although no cost-effective internal
control system will preclude all errors and irregularities, we believe our controls as of and for the year
ended June 27, 2001 provide reasonable assurance that the consolidated financial statements are reliable.
RONALD A. MCDOUGALL
Chairman and Chief Executive Officer
CHARLES M. SONSTEBY
Executive Vice President and Chief Financial Officer
F-29