Pier 1 2011 Annual Report Download - page 68

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Chief Financial Officer, of the effectiveness of the design and operation of the Company’s disclosure controls
and procedures as of February 26, 2011. Based on this evaluation, the Chief Executive Officer and Chief
Financial Officer have concluded, with reasonable assurance, that the Company’s disclosure controls and
procedures were effective as of such date.
REPORT OF MANAGEMENT ON INTERNAL CONTROL OVER FINANCIAL REPORTING
Management is responsible for establishing and maintaining a system of internal control over financial
reporting designed to provide reasonable assurance that transactions are executed in accordance with
management authorization and that such transactions are properly recorded and reported in the financial
statements, and that records are maintained so as to permit preparation of the financial statements in accordance
with U.S. generally accepted accounting principles. Because of its inherent limitations, internal control over
financial reporting may not prevent or detect misstatements. Management has assessed the effectiveness of the
Company’s internal control over financial reporting utilizing the criteria set forth by the Committee of
Sponsoring Organizations of the Treadway Commission in Internal Control – Integrated Framework.
Management concluded that based on its assessment, Pier 1 Imports, Inc.’s internal control over financial
reporting was effective as of February 26, 2011. Ernst & Young LLP, an independent registered public
accounting firm, has audited the Company’s internal control over financial reporting as of February 26, 2011, as
stated in their report which is included in this Annual Report on Form 10-K.
/s/ Alexander W. Smith
Alexander W. Smith
President and
Chief Executive Officer
/s/ Charles H. Turner
Charles H. Turner
Executive Vice President and
Chief Financial Officer
CHANGES IN INTERNAL CONTROL OVER FINANCIAL REPORTING
There were no changes in the Company’s internal control over financial reporting during the fourth
quarter of fiscal 2011 that would have materially affected, or would have been reasonably likely to materially
affect, the Company’s internal control over financial reporting.
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