Popeye's 2014 Annual Report Download - page 51

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33
Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the SEC’s rules 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’s internal 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 a risk that material misstatements may not be prevented or detected on a timely 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’s internal control over financial reporting as of December 28, 2014,
using the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission in Internal Control-
Integrated Framework (2013). 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 28, 2014, the Company’s
internal control over financial reporting is effective.
PricewaterhouseCoopers, LLP, our independent registered public accounting firm that audited our consolidated financial
statements included in this Annual Report, has also audited the effectiveness of the Company’s internal control over financial
reporting as of December 28, 2014. This report can be found on Page 40 of this Annual Report.
(d) Changes in Internal Control Over Financial Reporting
During the fourth quarter of 2014, there was no change in the Company’s internal control over financial reporting that has
materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting.
Item 9B. OTHER INFORMATION
None.