LeapFrog 2008 Annual Report Download - page 52
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• 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.
• Provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use
or disposition of our assets that could have a material effect on our financial statements.
Management assessed our internal control over financial reporting as of December 31, 2008, the end of our
fiscal year. Management based its assessment on criteria established in Internal Control—Integrated Framework
issued by the Committee of Sponsoring Organizations of the Treadway Commission, or COSO. Management’s
assessment included evaluation of such elements as the design and operating effectiveness of key financial
reporting controls, process documentation, accounting policies and our overall control environment.
Based on management’s assessment of our internal control over financial reporting, management concluded
that, as of December 31, 2008, our internal control over financial reporting was effective. Ernst & Young LLP,
the independent registered public accounting firm that audited our financial statements included in this Annual
Report on Form 10-K, has audited our internal control over financial reporting as of December 31, 2008, as
stated in its attestation report appearing herein.
Inherent Limitations on Effectiveness of Controls
A control system, no matter how well conceived and operated, can provide only reasonable, not absolute
assurance that the objectives of the control system are met. Because of inherent limitations in all control systems,
no evaluation of controls can provide absolute assurance that all control issues, if any, within a company have
been detected. Accordingly, our disclosure controls and procedures are designed to provide reasonable, not
absolute, assurance that the objectives of our disclosure system are met.
Changes in Internal Control over Financial Reporting
There has been no change in our internal control over financial reporting during the quarter ended
December 31, 2008 that has materially affected, or is reasonably likely to materially affect, our internal control
over financial reporting.
ITEM 9B. OTHER INFORMATION
Not applicable.
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