Ricoh 2007 Annual Report Download - page 65

Download and view the complete annual report

Please find page 65 of the 2007 Ricoh annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 73

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73

64
ANNUAL REPORT 2007
Management's Report on Internal Control Over Financial Reporting
Ricoh's management is responsible for establishing and maintaining adequate internal control over
financial reporting, as defined in Rule 13a-15(f) and Rule 15d-15(f) of the Securities Exchange Act
of 1934, as amended. Ricoh's internal control over financial reporting is a process designed to
provide reasonable assurance regarding the reliability of financial reporting and the preparation of
financial statements for external purposes in accordance with generally accepted accounting
principles and includes those policies and procedures that (1) pertain to the maintenance of records
that in reasonable detail accurately and fairly reflect the transactions and dispositions of the assets of
Ricoh; (2) provide reasonable assurance that transactions are recorded as necessary to permit
preparation of financial statements in accordance with generally accepted accounting principles, and
that receipts and expenditures of Ricoh are being made only in accordance with authorizations of
management and directors of Ricoh; and (3) provide reasonable assurance regarding prevention or
timely detection of unauthorized acquisition, use or disposition of Ricoh's assets that could have a
material effect on the financial statements.
Because of its inherent limitations, internal control over financial reporting may not prevent or
detect misstatements. In addition, 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 internal control policies or procedures may deteriorate.
Ricoh's management assessed the effectiveness of Ricoh's internal control over financial reporting as
of March 31, 2007. In making this assessment, management used the criteria set forth by the
Committee of Sponsoring Organizations of the Treadway Commission (COSO) in Internal Control -
Integrated Framework. Management's assessment included evaluating the design of Ricoh's internal
control over financial reporting and testing of the operational effectiveness of Ricoh's internal
control over financial reporting.
Based on such assessment, management concluded that, as of March 31, 2007, Ricoh's internal
control over financial reporting was effective based on the criteria issued by COSO.
KPMG AZSA & Co., an independent registered public accounting firm, has issued an audit report on
our assessment of the effectiveness of Ricoh's internal control over financial reporting as of March
31, 2007.
Shiro Kondo
President and Chief Executive Officer
Zenji Miura
Corporate Executive Vice President and Chief Financial Officer
June 29,2007