Tesla 2016 Annual Report Download - page 75
Download and view the complete annual report
Please find page 75 of the 2016 Tesla 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.Netlosspershare,basicanddilutedforthefourquartersofeachfiscalyearmaynotsumtothetotalfortheyearbecauseofthedifferentnumbersofshares
outstandingduringeachperiod.
I TEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE
Notapplicable.
I TEM 9A. CONTROLS AND PROCEDURES
EvaluationofDisclosureControlsandProcedures
WeconductedanevaluationasofDecember31,2015,underthesupervisionandwiththeparticipationofourmanagement,includingourChiefExecutive
OfficerandChiefFinancialOfficer,oftheeffectivenessofthedesignandoperationofourdisclosurecontrolsandprocedures.Baseduponthatevaluation,our
ChiefExecutiveOfficerandChiefFinancialOfficerconcludedthat,asofDecember31,2015,ourdisclosurecontrolsandprocedureswereeffectivetoprovide
reasonableassurance.
Management’sReportonInternalControloverFinancialReporting
Ourmanagementisresponsibleforestablishingandmaintainingadequateinternalcontroloverfinancialreporting.Internalcontroloverfinancialreporting
isaprocessdesignedby,orunderthesupervisionof,ourChiefExecutiveOfficerandChiefFinancialOfficertoprovidereasonableassuranceregardingthe
reliabilityoffinancialreportingandthepreparationoffinancialstatementsforexternalpurposesinaccordancewithgenerallyacceptedaccountingprinciplesand
includesthosepoliciesandproceduresthat(1)pertaintothemaintenanceofrecordsthatinreasonabledetailaccuratelyandfairlyreflectthetransactionsand
dispositionsofourassets;(2)providereasonableassurancethattransactionsarerecordedasnecessarytopermitpreparationoffinancialstatementsinaccordance
withgenerallyacceptedaccountingprinciples,andthatourreceiptsandexpendituresarebeingmadeonlyinaccordancewithauthorizationsofourmanagement
anddirectors;and(3)providereasonableassuranceregardingpreventionortimelydetectionofunauthorizedacquisition,useordispositionofourassetsthatcould
haveamaterialeffectonthefinancialstatements.
Underthesupervisionandwiththeparticipationofourmanagement,includingourChiefExecutiveOfficerandChiefFinancialOfficer,weconductedan
evaluationoftheeffectivenessofourinternalcontroloverfinancialreportingbasedoncriteriaestablishedin“InternalControl—IntegratedFramework(2013)”
issuedbytheCommitteeofSponsoringOrganizationsoftheTreadwayCommission(COSO).Ourmanagementconcludedthatourinternalcontroloverfinancial
reportingwaseffectiveasofDecember31,2015.
Ourindependentregisteredpublicaccountingfirm,PricewaterhouseCoopersLLP,hasauditedtheeffectivenessofourinternalcontroloverfinancial
reportingasofDecember31,2015asstatedintheirreportwhichisincludedherein.
LimitationsontheEffectivenessofControls
Becauseofinherentlimitations,internalcontroloverfinancialreportingmaynotpreventordetectmisstatementsandprojectionsofanyevaluationof
effectivenesstofutureperiodsaresubjecttotheriskthatcontrolsmaybecomeinadequatebecauseofchangesinconditions,orthatthedegreeofcompliancewith
thepoliciesorproceduresmaydeteriorate.
ChangesinInternalControloverFinancialReporting
TherewasnochangeinourinternalcontroloverfinancialreportingwhichoccurredduringthefourthfiscalquarteroftheyearendedDecember31,2015
whichhasmateriallyaffected,orisreasonablylikelytomateriallyaffect,ourinternalcontroloverfinancialreporting.
I TEM 9B. OTHER INFORMATION
None
74