El Pollo Loco 2016 Annual Report Download - page 84
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Please find page 84 of the 2016 El Pollo Loco 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.ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOU NTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE
None.
ITEM 9A. CONTROLS AND PROCEDURES
Disclosure Controls and Procedures
Wemaintaindisclosurecontrolsandprocedures(asdefinedinExchangeActRule13a-15(e))designedtoensurethatinformationrequiredtobedisclosedin
ExchangeActreportsisrecorded,processed,summarized,andreportedwithintherequiredtimeperiods,andthatsuchinformationisaccumulatedand
communicatedtoourmanagement,including,asappropriate,toourChiefExecutiveOfficerandChiefFinancialOfficer,soastopermittimelydecisionsregarding
requireddisclosures.
Withthesupervisionandparticipationofmanagement,includingourChiefExecutiveOfficerandChiefFinancialOfficer,weevaluatedtheeffectivenessofthe
designandoperationofourdisclosurecontrolsandprocedures,andourChiefExecutiveOfficerandChiefFinancialOfficerconcludedthatthedesignand
operationofourdisclosurecontrolsandprocedureswereeffectiveasoftheendoftheperiodcoveredbythisannualreport.
Thedesignofanysystemofcontrolisbasedonassumptionsaboutthelikelihoodoffutureevents.Therecanbenoassurancethatanydesignwillsucceedin
achievingitsstatedobjectivesinallcases,orthatcompliancewithpoliciesorprocedureswillremainsteady.Becauseoftheirinherentlimitations,disclosure
controlsandproceduresmaynotpreventordetectallmisstatements.Accordingly,eveneffectivedisclosurecontrolsandprocedurescanonlyprovidereasonable
assuranceofachievingtheircontrolobjectives.
Management Report on Internal Control over Financial Reporting
Ourmanagementisresponsibleforestablishingandmaintainingadequateinternalcontroloverfinancialreporting.AsdefinedinExchangeActRule13a-15(f),
internalcontroloverfinancialreportingisaprocessdesignedby,orunderthesupervisionof,ourprincipalexecutiveofficerandprincipalfinancialofficerand
effectedbyourBoardofDirectors,managementandotherpersonnel,toprovidereasonableassuranceregardingthereliabilityoffinancialreportingandthe
preparationoffinancialstatementsforexternalpurposesinaccordancewithGAAPandincludesthosepoliciesandproceduresthat(i)pertaintothemaintenanceof
recordsthatinreasonabledetail,accuratelyandfairlyreflectthetransactionsanddispositionsoftheassetsoftheCompany;(ii)providereasonableassurancethat
transactionsarerecordedasnecessarytopermitpreparationoffinancialstatementsinaccordancewithGAAP,andthatreceiptsandexpendituresoftheCompany
arebeingmadeonlyinaccordancewithauthorizationsofmanagementanddirectorsoftheCompany;and(iii)providereasonableassuranceregardingprevention
ortimelydetectionofunauthorizedacquisition,useordispositionoftheCompany’sassetsthatcouldhaveamaterialeffectonthefinancialstatements.Thedesign
ofanysystemofcontrolisbaseduponcertainassumptionsaboutthelikelihoodoffutureevents,andtherecanbenoassurancethatanydesignwillsucceedin
achievingitsstatedobjectivesunderallfutureevents,nomatterhowremote,orthatthedegreeofcompliancewiththepoliciesorproceduresmaynotdeteriorate.
Becauseofitsinherentlimitations,internalcontroloverfinancialreportingmaynotpreventordetectmisstatements.Accordingly,eveneffectiveinternalcontrol
overfinancialreportingcanonlyprovidereasonableassuranceofachievingtheircontrolobjectives.Also,projectionsofanyevaluationofeffectivenesstofuture
periodsaresubjecttotheriskthatcontrolsmaybecomeinadequatebecauseofchangesinconditions,orthatthedegreeofcompliancewiththepoliciesor
proceduresmaydeteriorate.
Underthesupervisionandwiththeparticipationofourmanagement,includingourchiefexecutiveofficerandchieffinancialofficer,wecarriedoutanevaluation
oftheeffectivenessofourinternalcontroloverfinancialreportingasofDecember30,2015basedonthecriteriain“InternalControl—IntegratedFramework”
(2013Framework)issuedbytheCommitteeofSponsoringOrganizationsoftheTreadwayCommission(“COSO”).Basedonthisevaluation,ourmanagement
concludedthatourinternalcontroloverfinancialreportingwaseffectiveasofDecember30,2015.
Further,ourindependentregisteredpublicaccountingfirmwillnotberequiredtoformallyattesttotheeffectivenessofourinternalcontroloverfinancialreporting
aslongaswearean“emerginggrowthcompany”pursuanttotheprovisionsoftheJOBSAct.
Changes in Internal Control over Financial Reporting
Nochangeoccurredinourinternalcontroloverfinancialreportinginthemostrecentquarterthatmateriallyaffected,orisreasonablylikelytomateriallyaffect,
ourinternalcontroloverfinancialreporting.
ITEM 9B. OTHER INFORMATION
None.
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