Equifax 2008 Annual Report Download - page 34

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28FEB200910255904
MANAGEMENT’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING
Management of Equifax is responsible for establishing and Because of its inherent limitations, internal control over
maintaining adequate internal control over financial report- financial reporting may not prevent or detect all misstate-
ing as defined in Rule 13a-15(f) under the Securities ments. Also, projections of any evaluation of effectiveness
Exchange Act of 1934. Equifax’s internal control over finan- to future periods are subject to the risk that controls may
cial reporting is a process designed to provide reasonable become inadequate because of changes in conditions, or
assurance regarding the reliability of financial reporting and that the degree of compliance with the policies or proce-
the preparation of financial statements for external pur- dures may deteriorate.
poses in accordance with U.S. generally accepted Management assessed the effectiveness of Equifax’s inter-
accounting principles. Internal control over financial report- nal control over financial reporting as of December 31,
ing includes those written policies and procedures that: 2008. Management based this assessment on criteria for
• Pertain to the maintenance of records that, in reasonable effective internal control over financial reporting described
detail, accurately and fairly reflect the transactions and in ‘‘Internal Control — Integrated Framework’’ issued by the
dispositions of the assets of Equifax; Committee of Sponsoring Organizations of the Treadway
• Provide reasonable assurance that transactions are Commission. Management’s assessment included an eval-
recorded as necessary to permit preparation of financial uation of the design of Equifax’s internal control over finan-
statements in accordance with U.S. generally accepted cial reporting and testing of the operational effectiveness of
accounting principles; its internal control over financial reporting. Management
• Provide reasonable assurance that receipts and expendi- reviewed the results of its assessment with the Audit Com-
tures of Equifax are being made only in accordance with mittee of its Board of Directors.
authorization of management and the Board of Directors
of Equifax; and Based on this assessment, management determined that,
• Provide reasonable assurance regarding prevention or as of December 31, 2008, Equifax maintained effective
timely detection of unauthorized acquisition, use or dis- internal control over financial reporting. Ernst & Young LLP,
position of assets that could have a material effect on the Company’s independent registered public accounting
the consolidated financial statements. firm, has issued an audit report on the Company’s internal
control over financial reporting as of December 31, 2008.
Internal control over financial reporting includes the controls
themselves, monitoring and internal auditing practices, and
actions taken to correct deficiencies as identified.
32 EQUIFAX INC.