Ricoh 2009 Annual Report Download - page 72

71 ANNUAL REPORT 2009
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 excluded from its assessment of the effectiveness of Ricoh’s internal control over financial reporting as of March 31,
2009 an assessment of internal control over financial reporting of IKON Office Solutions, Inc. (a company that Ricoh acquired on October 31,
2008). IKON Office Solutions, Inc. had total assets of Yen 319,651 million and total sales of Yen 141,941 million that were reflected in the
consolidated financial statements of the Company as of and for the year ended March 31, 2009.
Ricoh’s management assessed the effectiveness of Ricoh’s internal control over financial reporting as of March 31, 2009. 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, 2009, Ricoh’s internal control over financial reporting was
effective based on the criteria set forth by COSO.
Ricoh’s independent registered accounting firm, KPMG AZSA & Co., has issued an audit report on the effectiveness of Ricoh’s internal
control over financial reporting as of March 31, 2009.
Shiro Kondo
President and Chief Executive Officer
Zenji Miura
Corporate Executive Vice President and Chief Financial Officer
June 26, 2009