CompUSA 2007 Annual Report Download - page 73

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30
of controls in future periods are subject to the risk that those internal controls may become inadequate
because of changes in business conditions, or that the degree of compliance with the policies or
procedures may deteriorate.
Management’s Report on Internal Control Over Financial Reporting
The Company’s management is responsible for establishing and maintaining adequate internal control
over financial reporting. Under the supervision and with the participation of Company’s management,
including the Chief Executive Officer and Chief Financial Officer, the Company evaluated the
effectiveness of the design and operation of its 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 that evaluation, the Company’s Chief Executive
Officer and Chief Financial Officer concluded that the Company’s internal control over financial
reporting was effective as of December 31, 2007.
Our independent registered public accounting firm, Ernst & Young, has issued an attestation report on the
effectiveness of our internal control over financial reporting as of December 31, 2007, a copy of which is
included in this report.
Changes in Internal Control Over Financial Reporting
In conjunction with our Section 404 compliance efforts, we have made numerous significant
improvements to our internal control over financial reporting, including remediation of the significant
deficiencies noted during previous quarters, with the exception of the consolidation process. The scope of
these improvements was broad, impacting internal control over financial reporting throughout the
Company. However, the nature of these improvements was incremental and the impact was not material
both individually and in the aggregate.
There have been no changes in the Company’s internal controls over financial reporting during the year
ended December 31, 2007 that have materially affected, or are reasonably likely to materially affect, the
Company’s internal control over financial reporting.
Item 9B. Other Information.
None.