THQ 2008 Annual Report Download - page 104

Download and view the complete annual report

Please find page 104 of the 2008 THQ 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 119

  • 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
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
None.
Item 9A. Controls and Procedures
(a) Definition and limitations of disclosure controls. Our disclosure controls and procedures (as defined in
Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (the ‘‘Exchange
Act’’)) are controls and other procedures that are designed to ensure that information required to be
disclosed in our reports filed under the Exchange Act, such as this report, is recorded, processed,
summarized and reported within the time periods specified in the Securities and Exchange Commission’s
rules and forms. Disclosure controls and procedures are also designed to ensure that such information is
accumulated and communicated to our management, including the Chief Executive Officer and Chief
Financial Officer, as appropriate to allow timely decisions regarding required disclosure. Our management
evaluates these controls and procedures on an ongoing basis to determine if improvements or
modifications are necessary.
There are inherent limitations to the effectiveness of any system of disclosure controls and procedures.
These limitations include the possibility of human error, the circumvention or overriding of the controls
and procedures and reasonable resource constraints. In addition, because we have designed our system of
controls based on certain assumptions, which we believe are reasonable, about the likelihood of future
events, our system of controls may not achieve its desired purpose under all possible future conditions.
Accordingly, our disclosure controls and procedures provide reasonable assurance, but not absolute
assurance, of achieving their objectives.
(b) Evaluation of disclosure controls and procedures. Our Chief Executive Officer and Chief Financial
Officer, after evaluating the effectiveness of our disclosure controls and procedures, believe that as of the
end of the period covered by this report, our disclosure controls and procedures were effective in providing
the requisite reasonable assurance that material information required to be disclosed in the reports that we
file or submit under the Exchange Act is recorded, processed, summarized and reported within the time
periods specified in the SEC’s rules and forms, and is accumulated and communicated to our management,
including our Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely decisions
regarding required disclosure.
(c) Changes in internal control over financial reporting. There were no material changes in our internal
control over financial reporting in the fourth quarter of fiscal 2008.
96