LeapFrog 2012 Annual Report Download - page 75
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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 evaluation of our internal control over financial reporting, management concluded
that, as of December 31, 2012, 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, 2012, and
has issued an attestation report on our internal control over financial reporting, as reflected 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. Moreover, because of its inherent limitations, internal control over financial
reporting may not prevent or detect misstatements. Accordingly, our disclosure controls and procedures are
designed to provide reasonable, not absolute, assurance that the objectives of our disclosure system are met.
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.
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, 2012 that has materially affected, or is reasonably likely to materially affect, our internal control
over financial reporting.
ITEM 9B. OTHER INFORMATION
Not applicable.
67