Equifax 2009 Annual Report Download - page 37

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MANAGEMENT’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING
Management of Equifax is responsible for establishing and maintain- Because of its inherent limitations, internal control over financial
ing adequate internal control over financial reporting as defined in reporting may not prevent or detect all misstatements. Also, projec-
Rule 13a-15(f) under the Securities Exchange Act of 1934. Equifax’s tions of any evaluation of effectiveness to future periods are subject
internal control over financial reporting is a process designed to pro- to the risk that controls may become inadequate because of
vide reasonable assurance regarding the reliability of financial report- changes in conditions, or that the degree of compliance with the
ing and the preparation of financial statements for external purposes policies or procedures may deteriorate.
in accordance with U.S. generally accepted accounting principles.
Internal control over financial reporting includes those written poli- Management assessed the effectiveness of Equifax’s internal control
cies and procedures that: over financial reporting as of December 31, 2009. Management
• Pertain to the maintenance of records that, in reasonable detail, based this assessment on criteria for effective internal control over
accurately and fairly reflect the transactions and dispositions of financial reporting described in ‘‘Internal Control — Integrated
the assets of Equifax; Framework’’ issued by the Committee of Sponsoring Organizations
• Provide reasonable assurance that transactions are recorded as of the Treadway Commission. Management’s assessment included
necessary to permit preparation of financial statements in accor- an evaluation of the design of Equifax’s internal control over financial
dance with U.S. generally accepted accounting principles; reporting and testing of the operational effectiveness of its internal
• Provide reasonable assurance that receipts and expenditures of control over financial reporting. Management reviewed the results of
Equifax are being made only in accordance with authorization of its assessment with the Audit Committee of its Board of Directors.
management and the Board of Directors of Equifax; and
• Provide reasonable assurance regarding prevention or timely Based on this assessment, management determined that, as of
detection of unauthorized acquisition, use or disposition of assets December 31, 2009, Equifax maintained effective internal control
that could have a material effect on the consolidated financial over financial reporting. Ernst & Young LLP, the Company’s indepen-
statements. dent registered public accounting firm, has issued an audit report on
the Company’s internal control over financial reporting as of Decem-
Internal control over financial reporting includes the controls them- ber 31, 2009.
selves, monitoring and internal auditing practices, and actions taken
to correct deficiencies as identified.
EQUIFAX 2009 ANNUAL REPORT 35
11943 Equifax_Financials.indd 35 3/4/10 4:21 PM