Plantronics 2002 Annual Report Download - page 54

management ’s report on responsibilit y for f inancial report ing
T O O U R S T O C K H O L D E R S
T he management of Plantronics, Inc. has the responsibility for preparing the accompanying
consolidated financial statements and for their integrity and objectivity. T he statements
were prepared in accordance with accounting principles generally accepted in the United
States of America. T he consolidated financial statements include amounts that are based
on management’s best estimates and judgments. Management also prepared the other
information in this annual report and is responsible for its accuracy and consistency with
the consolidated financial statements.
We maintain an effective internal control structure. It consists, in part, of org a n i z a t i o n a l
arrangements with clearly defined lines of responsibility and delegation of authority, and
comprehensive systems and control procedures. We believe this structure provides reasonable
assurance that transactions are executed in accordance with management authorization, and
that they are appropriately recorded in order to permit preparation of financial statements in
conformity with generally accepted accounting principles and to adequately safeguard, verify
and maintain accountability of assets. Although no cost-effective internal control system
will preclude all errors and irregularities, we believe our controls as of March 31, 2002,
provide reasonable assurance that the financial statements are reliable and that our assets
are reasonably safeguarded.
To assure the effective administration of internal control, we carefully select and train our
employees, develop and disseminate written policies and procedures, provide appropriate
communication channels, and foster an environment conducive to the effective functioning
of controls. We maintain an active Standards of Conduct program intended to provide
that employees adhere to the highest standards of personal and professional integrity.
T he Audit Committee of the Board of Directors consists of three directors who are not
employees and who are, in the opinion of the Board of Directors, free from any relationship
that would interfere with the exercise of independent judgment as an Audit Committee
m e m b e r. T he Audit Committee annually recommends to the Board independent auditors
for appointment, subject to stockholder ratification. Pursuant to stockholder approval at
last year’s annual meeting, PricewaterhouseCoopers LLP was selected as our independent
accountants. T he Audit Committee met during the year with representatives of management
and our independent accountants to review our financial reporting process and our controls
to safeguard assets. Our independent accountants at all times have full and free access to
the Audit Committee.
T he accounting firm of PricewaterhouseCoopers LLP has performed an independent audit
of our financial statements. Management has made available to PricewaterhouseCoopers
LLP all of the financial records of Plantronics and related data, as well as the minutes
of stockholders’ and directors’ meetings. Furthermore, management believes that all
representations made to PricewaterhouseCoopers LLP during its audit were valid and
appropriate. T he accounting firm’s report appears below.
Ken Kannappan Barbara Scherer
P r esid en t and Chi ef Execu t i ve Of f icer Sen io r Vi ce Presid en t —Fi nan ce & A dm in istr at io n
and Chi ef Finan cial Of f i cer
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