Ricoh 2008 Annual Report Download - page 66

To the Board of Directors and Shareholders of Ricoh Company, Ltd.:
We have audited Ricoh Company, Ltd. (a Japanese corporation) and subsidiaries’ internal control over financial reporting as of March 31,
2008, based on criteria established in Internal Control - Integrated Framework issued by the Committee of Sponsoring Organizations of the
Treadway Commission (COSO). The Company’s management is responsible for maintaining effective internal control over financial reporting
and for its assessment of the effectiveness of internal control over financial reporting. Our responsibility is to express an opinion on the
effectiveness of the Company’s internal control over financial reporting based on our audit.
We conducted our audit in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those
standards require that we plan and perform the audit to obtain reasonable assurance about whether effective internal control over financial
reporting was maintained in all material respects. Our audit included obtaining an understanding of internal control over financial reporting,
assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control
based on the assessed risk. Our audit also included performing such other procedures as we considered necessary in the circumstances. We
believe that our audit provides a reasonable basis for our opinion.
A 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 financial statements for external purposes in accordance with generally accepted accounting
principles. A company’s internal control over financial reporting 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 the company; (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 the company are being made only in accordance with authorizations of
management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized
acquisition, use, or disposition of the company’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. Also, 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 the policies or procedures may deteriorate.
In our opinion, Ricoh Company, Ltd. and subsidiaries maintained, in all material respects, effective internal control over financial reporting as
of March 31, 2008, based on criteria established in Internal Control - Integrated Framework issued by the Committee of Sponsoring
Organizations of the Treadway Commission (COSO).
Ricoh Company, Ltd. acquired InfoPrint Solutions Company, LLC during the year ended March 31, 2008, and management excluded from its
assessment of the effectiveness of Ricoh Company, Ltd. and subsidiaries’ internal control over financial reporting as of March 31, 2008,
InfoPrint Solutions Company, LLC’s internal control over financial reporting associated with total assets of ¥46,281 million, excluding
goodwill and intangibles which were included within the scope of the assessment, and total revenues of ¥68,577 million included in the
consolidated financial statements of Ricoh Company, Ltd. and subsidiaries as of and for the year ended March 31, 2008. Our audit of internal
control over financial reporting of the Company also excluded an evaluation of the effectiveness of the internal control over financial
reporting of InfoPrint Solutions Company, LLC.
We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the
consolidated financial statements of Ricoh Company, Ltd. and subsidiaries as listed in the accompanying index, and our report dated June
27, 2008 expressed an unqualified opinion on those consolidated financial statements.
Tokyo, Japan
June 27, 2008
Report of Independent Registered Public Accounting Firm
65 ANNUAL REPORT 2008