CompUSA 2009 Annual Report Download - page 86

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26
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.
Management, including the Company’ s Chief Executive Officer and Chief Financial Officer, does not expect that the Company’ s
internal controls will prevent or detect all errors and all fraud. A control system, no matter how well designed and operated, can
provide only reasonable, not absolute, assurance that the objectives of the control system are met. Further, the design of a control
system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs.
Because of the inherent limitations in all control systems, no evaluation of internal controls can provide absolute assurance that all
control issues and instances of fraud, if any, have been detected. Also, any evaluation of the effectiveness 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 established 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, 2009.
The Company’ s independent registered public accounting firm, Ernst & Young LLP, has issued an attestation report on the
effectiveness of the Company’ s internal control over financial reporting as of December 31, 2009, a copy of which is included in this
report.
Changes in Internal Control Over Financial Reporting
There have been no changes in the Company’ s internal controls over financial reporting during the quarter ended December 31, 2009
that have materially affected, or are reasonably likely to materially affect, the Company’ s internal control over financial reporting.
Item 9B. Other Information.
None.