Safeway 2008 Annual Report Download - page 57

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SAFEWAY INC. AND SUBSIDIARIES
Management’s Annual Report on Internal Control over Financial Reporting
Management of the Company, including the Chief Executive Officer and the Chief Financial Officer, is responsible for
establishing and maintaining adequate internal control over financial reporting, as defined in Rules 13a-15(f) and
15d-15(f) of the Securities Exchange Act of 1934, as amended. The Company’s internal controls were designed to provide
reasonable assurance as to the reliability of its financial reporting and the preparation and presentation of the
consolidated financial statements for external purposes in accordance with accounting principles generally accepted in the
United States 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 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.
The Company conducted an evaluation of the effectiveness of its internal control over financial reporting based on the
criteria in Internal Control – Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway
Commission. This evaluation included review of the documentation of controls, evaluation of the design effectiveness of
controls, testing of the operating effectiveness of controls and a conclusion on this evaluation. Through this evaluation,
management did not identify any material weakness in the Company’s internal control over financial reporting. There are
inherent limitations in the effectiveness of any system of internal control over financial reporting; however, based on the
evaluation, management has concluded the Company’s internal control over financial reporting was effective as of
January 3, 2009.
The Company’s independent registered public accounting firm has audited the accompanying consolidated financial
statements and the Company’s internal control over financial reporting. The report of the independent registered public
accounting firm is included in this Annual Report on Form 10-K and begins on the following page.
STEVEN A. BURD ROBERT L. EDWARDS
Chairman, President and
Chief Executive Officer
Executive Vice President
and Chief Financial Officer
March 3, 2009 March 3, 2009
37