Harris Teeter 2011 Annual Report Download - page 53

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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 2, 2011, 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 2, 2011,
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 2, 2011, 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 2, 2011 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 2, 2011.
(d) Changes in internal control over financial reporting. During the Company’s fourth fiscal quarter of 2011, 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.
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