Incredimail 2009 Annual Report Download - page 78

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PART II
ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES
A. None.
ITEM 15. CONTROLS AND PROCEDURES
(a) Disclosure Controls and Procedures
. Our management, including our Chief Executive Officer and Chief Financial Officer,
has evaluated the effectiveness of our “disclosure controls and procedures” (as such term is defined in Rules 13a-15(e) and 15d-
15(e) under the
Exchange Act) as of December 31, 2009. Based on such evaluation, our Chief Executive Officer and Chief Financial Officer have concluded
that, as of December 31, 2009, our disclosure controls and procedures are effective to ensure that information required to be disclosed by us in
the reports we file or submit under the Exchange Act and the rules thereunder, is recorded, processed, summarized and reported within the time
periods specified in the SEC’
s rules and forms and to ensure that information required to be disclosed in the reports that we file or submit under
the Exchange Act is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, to
allow timely decisions regarding required disclosure.
(b) Management’s Annual Report on Internal Control Over Financial Reporting
: Our management 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 Exchange Act. Our
internal control over financial reporting is a process 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. Our internal control over
financial reporting includes those policies and procedures that:
Our management recognizes that there are inherent limitations in the effectiveness of any system of internal control over financial reporting,
including the possibility of human error and the circumvention or override of internal control. Accordingly, even effective internal control over
financial reporting can provide only reasonable assurance with respect to financial statement preparation, and may not prevent or detect all
misstatements. Further, because of changes in conditions, the effectiveness of internal control over financial reporting may vary over time.
Our management assessed the effectiveness of our internal control over financial reporting as of December 31, 2009. In making this assessment,
our management used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) in “
Internal
Control – Integrated Framework.”
Our management has concluded, based on its assessment, that our internal control over financial reporting was
effective as of December 31, 2009.
Our financial statements have been audited by Kost, Forer, Gabbay & Kasierer (A Member of Ernst & Young Global), an independent registered
public accounting firm.
(c) Attestation Report of Registered Public Accounting Firm:
This annual report does not include an attestation report of our
registered public accounting firm regarding internal control over financial reporting. Management’
s report was not subject to attestation by our
registered public accounting firm pursuant to temporary rules of the SEC that permit us to provide only management’
s report in this annual
report.
Not applicable.
ITEM 14.
MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS
●
pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of
our assets;
●
provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in
accordance with generally accepted accounting principles, and that our receipts and expenditures are being made only in
accordance with authorizations of our management and directors; and
●
provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of our
assets that could have a material effect on the financial statements.
72