Equifax 2010 Annual Report Download - page 36

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Management of Equifax is responsible for establishing and maintain-
ing adequate internal control over financial reporting as defined in
Rule 13a-15(f) under the Securities Exchange Act of 1934. Equifax’s
internal control over financial reporting is a process designed to
provide reasonable assurance regarding the reliability of financial
reporting and the preparation of financial statements for external
purposes in accordance with U.S. generally accepted accounting
principles. Internal control over financial reporting includes those writ-
ten policies and procedures that:
• Pertain to the maintenance of records that, in reasonable detail,
accurately and fairly reflect the transactions and dispositions of the
assets of Equifax;
• Provide reasonable assurance that transactions are recorded as
necessary to permit preparation of financial statements in
accordance with U.S. generally accepted accounting principles;
• Provide reasonable assurance that receipts and expenditures of
Equifax are being made only in accordance with authorization of
management and the Board of Directors of Equifax; and
• Provide reasonable assurance regarding prevention or timely
detection of unauthorized acquisition, use or disposition of assets
that could have a material effect on the consolidated financial
statements.
Internal control over financial reporting includes the controls
themselves, monitoring and internal auditing practices, and actions
taken to correct deficiencies as identified.
Because of its inherent limitations, internal control over financial
reporting may not prevent or detect all misstatements. Also, projec-
tions of any evaluation of effectiveness to future periods are subject
to the risk that controls may become inadequate because of changes
in conditions, or that the degree of compliance with the policies or
procedures may deteriorate.
Management assessed the effectiveness of Equifax’s internal control
over financial reporting as of December 31, 2010. Management
based this assessment on criteria for effective internal control over
financial reporting described in ‘‘Internal Control — Integrated
Framework’’ issued by the Committee of Sponsoring Organizations
of the Treadway Commission. Management’s assessment included
an evaluation of the design of Equifax’s internal control over financial
reporting and testing of the operational effectiveness of its internal
control over financial reporting. Management reviewed the results of
its assessment with the Audit Committee of its Board of Directors.
Based on this assessment, management determined that, as of
December 31, 2010, Equifax maintained effective internal control over
financial reporting. Ernst & Young LLP, the Company’s independent
registered public accounting firm, has issued an audit report on the
Company’s internal control over financial reporting as of
December 31, 2010.
MANAGEMENT’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING
EQUIFAX 2010 ANNUAL REPORT
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