Einstein Bros 2007 Annual Report Download - page 83

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http://www.sec.gov/Archives/edgar/data/949373/000104746908002111/a2183061z10-k.htm[9/11/2014 10:12:02 AM]
The Company carried out an evaluation, under the supervision and with the participation of the Company's management including the
Company's Chief Executive Officer and the Company's Chief Financial Officer, of the effectiveness of the design and operation of the Company's
disclosure controls and procedures as of the end of the period covered by this report pursuant to Securities Exchange Act Rule 13a-15. Based upon
that evaluation, the Company's Chief Executive Officer and Chief Financial Officer concluded the Company's disclosure controls and procedures
are effective in timely alerting them to material information relating to the Company (including its consolidated subsidiaries) required to be
included in the Company's periodic SEC filings.
Disclosure controls and procedures are controls and other procedures that are designed to ensure that information required to be disclosed by
us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified
in SEC's rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure information
required to be disclosed by us in the reports we file under the Exchange Act is accumulated and communicated to our management, including our
Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely decisions regarding required disclosure.
Management's Annual Report on Internal Control Over Financial Reporting
The Company's management 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 the Company's Chief Executive Officer and Chief Financial
Officer to provide reasonable assurance regarding the reliability of financial reporting and the preparation of the Company's financial statements for
external reporting purposes in accordance with accounting principles generally accepted in the United States of America.
As of January 1, 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 ("COSO"). Based on this assessment, management has determined that the Company's internal control over financial
reporting as of January 1, 2008, is effective.
Our 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 assurances 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 our financial statements.
The effectiveness of the Company's internal control over financial reporting as of January 1, 2008 has been audited by Grant Thornton LLP, an
independent registered public accounting firm, as stated in their report appearing under the heading "Report of Independent Registered Public
Accounting Firm," which expresses unqualified opinions on the Company's financial statements and on the
100
effectiveness of the Company's internal control over financial reporting as of January 1, 2008, which is included in Item 8 of this Annual Report on
Form 10-K.
Changes in Internal Control Over Financial Reporting
In addition, during the fourth quarter of 2007 no change in the Company's internal control over financial reporting was identified in connection
with this evaluation that has materially affected or is reasonably likely to materially affect the Company's internal control over financial reporting.
ITEM 9B. OTHER INFORMATION
None
101
PART III
ITEM 10. DIRECTORS EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE