Foot Locker 2004 Annual Report Download - page 35

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MANAGEMENT’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING
The management of the Company is responsible for establishing and maintaining adequate internal control over
financial reporting as defined in Rules 13a-15(f) and 15d-15(f) under the Securities Exchange Act of 1934. The Company’s
internal control over financial reporting is 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. The Company’s internal control over financial reporting includes those policies and procedures that:
(i) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and
dispositions of the assets of the Company; (ii) provide reasonable assurance that transactions are recorded as necessary
to permit preparation of financial statements in accordance with U.S. generally accepted accounting principles, and that
receipts and expenditures of the Company are being made only in accordance with authorizations of management and
directors of the Company; and (iii) 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 the financial statements.
Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements.
Also, projections 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 the Company’s internal control over financial reporting as of January 29, 2005. In making this
assessment, management used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission
(COSO) in Internal Control-Integrated Framework. Based on our assessment and those criteria, management believes that the
Company maintained effective internal control over financial reporting as of January 29, 2005.
The Company’s independent registered public accounting firm has issued their attestation report on management’s
assessment of the Company’s internal control over financial reporting. That report appears in the Company’s 2004 Annual
Report on Form 10-K under the heading, Report of Independent Registered Public Accounting Firm on Internal Control Over
Financial Reporting.
MATTHEW D. SERRA,
Chairman of the Board,
President and Chief Executive Officer
BRUCE L. HARTMAN,
Executive Vice President and
Chief Financial Officer
March 28, 2005
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