Harris Teeter 2010 Annual Report Download - page 64

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Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
None.
Item 9A. Controls and Procedures
(a) Evaluation of disclosure controls and procedures. As of October 3, 2010, an evaluation of the
effectiveness of the Company’s disclosure controls and procedures (as defined in Rule 13a-15(e) and 15d-15(e)
promulgated under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) was performed under
the supervision and with the participation of the Company’s management, including the Chief Executive Officer
and Chief Financial Officer. Based on that evaluation, the Company’s Chief Executive Officer and Chief Financial
Officer have concluded that the Company’s disclosure controls and procedures are effective to ensure that
information required to be disclosed by the Company in its reports that it files or submits under the Exchange Act
is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange
Commission rules and forms, and that information required to be disclosed by the Company in the reports the
Company files or submits under the Exchange Act is accumulated and communicated to the Company’s
management, including its Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely
decisions regarding required disclosure.
(b) Management’s annual report on internal control over financial reporting. Management of the Company
is responsible for establishing and maintaining adequate internal control over financial reporting (as defined in Rule
13a-15(f) and 15d-15(f) promulgated under the Exchange Act). The Company’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 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 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
October 3, 2010, based on the framework set forth by the Committee of Sponsoring Organizations of the Treadway
Commission (COSO) in Internal Control-Integrated Framework. Based on that assessment, management concluded
that, as of October 3, 2010, the Company’s internal control over financial reporting is effective based on the criteria
established in Internal Control-Integrated Framework.
(c) Attestation report of the registered public accounting firm. The effectiveness of the Company’s internal
control over financial reporting as of October 3, 2010 has been audited by KPMG, LLP, an independent registered
public accounting firm. Their report, which appears in Item 8, Financial Statement and Supplementary Data included
herein, expresses an unqualified opinion on the effectiveness of the Company’s internal control over financial
reporting as of October 3, 2010.
(d) Changes in internal control over financial reporting. During the Company’s fourth fiscal quarter of 2010,
there has been no change in the Company’s internal controls over financial reporting that has materially affected,
or is reasonably likely to materially affect, the Company’s internal controls over financial reporting.
Item 9B. Other Information
None.
RUDDICK CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (continued)
59