Logitech 2007 Annual Report Download - page 113

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PART II
ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES
None.
ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE
OF PROCEEDS
On June 30, 2005, a two-for-one stock split was effected.
On July 14, 2006, a two-for-one stock split was effected.
ITEM 15. CONTROLS AND PROCEDURES
(a) Disclosure Controls and Procedures
Logitech’s Chief Executive Officer and Chief Financial Officer, after evaluating the effectiveness of our
disclosure controls and procedures (as defined in Exchange Act Rule 13a-15(e)) as of the end of the period
covered by this Form 20-F, have concluded that, as of such date, our disclosure controls and procedures are
effective.
Disclosure controls are controls and procedures designed to reasonably assure that information required to
be disclosed in our reports filed under the Exchange Act, such as this Form 20-F, is recorded, processed,
summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules
and forms. Disclosure controls are also designed to reasonably assure that this information is accumulated and
communicated to our management, including the Chief Executive Officer and the Chief Financial Officer, to
allow timely decisions regarding required disclosure.
(b) Management’s Report on Internal Control over Financial Reporting
Logitech’s management, with oversight by the Board of Directors, is responsible for establishing and
maintaining adequate internal control over financial reporting. Logitech’s internal control system was designed to
provide reasonable assurance regarding the reliability of our financial reporting and the preparation and fair
presentation of financial statements in accordance with generally accepted accounting principles in the United
States.
Logitech’s management assessed the effectiveness of our internal control over financial reporting as of
March 31, 2007. In making this assessment, management used the criteria established in Internal Control –
Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission.
Based on this assessment, our management concluded that our internal control over financial reporting was
effective as of March 31, 2007.
All internal control systems, no matter how well designed, have inherent limitations. Therefore, even those
systems determined to be effective may not prevent or detect misstatements and can provide only reasonable
assurance with respect to financial statement preparation and presentation. 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.
(c) Attestation Report of the Registered Public Accounting Firm
Our management’s assessment of the effectiveness of our internal control over financial reporting as of
March 31, 2007 has been audited by PricewaterhouseCoopers SA, Switzerland, an independent registered public
accounting firm, as stated in their report, which is included under Item 18 “Financial Statements” on page F-2.
61
CG