Popeye's 2013 Annual Report Download - page 51

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35
Item 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
Our Consolidated Financial Statements can be found beginning on Page 40 of this Annual Report, and the relevant
portions of those statements and the accompanying notes are hereby incorporated by reference into this Item 8.
Item 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
FINANCIAL DISCLOSURE
None.
Item 9A. CONTROLS AND PROCEDURES
(a) Disclosure Controls and Procedures
Disclosure controls and procedures are controls and other procedures of a registrant designed to ensure that
information required to be disclosed by the registrant in the reports that it files or submits under the Securities Exchange
Act of 1934, as amended (the “Exchange Act”) is recorded, processed, summarized and reported, within the time periods
specified in the SEC’srules and forms and that such information is accumulated and communicated to aregistrant’s
management, including its principal executive and financial officers, as appropriate, to allow for timely decisions
regarding required disclosures.
(b) Our Evaluation of the Company’s Disclosure Controls and Procedures
We evaluated the effectiveness of the design and operation of the Company’sdisclosure controls and procedures as
of December 29, 2013, as required by Rule 13a-15(b) and 15d-15(b) of the Exchange Act. This evaluation was carried
out under the supervision and with the participation of our management, including our Chief Executive Officer (“CEO”)
and Chief Financial Officer (“CFO”).
Based on management’s assessment, the CEO and CFO concluded that the Company’sdisclosure controls and
procedures were effective as of December 29, 2013 to ensure that information required to be disclosed in the reports
we file or submit under the Exchange Act is recorded, processed, summarized and reported, within the time periods
specified in the SEC’srules and forms and accumulated and communicated to the Company’s management, including
its principal executive and principal financial officers as appropriate to allow timely decisions regarding required
disclosures.
(c) Management’s Report on Internal Control Over Financial Reporting
Our management is responsible for establishing and maintaining adequate internal control over financial reporting
as defined in Rule 13a-15(f) and 15d-15(f) under the Exchange Act. The Company’sinternal control over financial
reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the
preparation of the Company’s financial statements for external reporting purposes in accordance with generally accepted
accounting principles.
Internal control over financial reporting has inherent limitations. Internal control over financial reporting is a process
that involves human diligence and compliance and is subject to lapses in judgment and breakdowns resulting from
human failures. Internal control over financial reporting also can be circumvented by collusion or improper management
override. Because of such limitations, there is arisk that material misstatements may not be prevented or detected on
atimely basis by internal control over financial reporting. However, these inherent limitations are known features of
the financial reporting process. Therefore, it is possible to design into the process safeguards to reduce, though not
eliminate, this risk.
Management assessed the effectiveness of the Company’sinternal control over financial reporting as of December 29,
2013,using the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission in Internal
Control-Integrated Framework (1992).This evaluation was carried out under the supervision and with the participation
of our management, including our CEO and CFO. Based on this assessment, management concluded that as of
December 29, 2013,the Company’sinternal control over financial reporting is effective.