Travelzoo 2014 Annual Report Download - page 114

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79
During the quarter ended December 31, 2014, there was no change in our internal control over financial reporting (as
defined in Exchange Act Rule 13a-15(f)) that materially affected, or is reasonably likely to materially affect, the Company’s
internal control over financial reporting.
Management’s Report on Internal Control Over Financial Reporting
Travelzoo’s management is responsible for establishing and maintaining adequate internal control over financial
reporting for Travelzoo Inc. Travelzoo’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 U.S. generally accepted accounting principles. Travelzoo’s internal control over financial reporting includes
those policies and procedures that (i) pertain to the maintenance of records that, in reasonable detail, accurately and fairly
reflect the transactions and dispositions of the assets of Travelzoo; (ii) 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 Travelzoo are being made only in accordance with authorizations of
management and directors of Travelzoo; and (iii) provide reasonable assurance regarding prevention or timely detection of
unauthorized acquisition, use, or disposition of Travelzoo’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.
Travelzoo’s management assessed the effectiveness of Travelzoo’s internal control over financial reporting as of
December 31, 2014, utilizing the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission
(COSO) in Internal Control — Integrated Framework (1992). Based on the assessment by Travelzoo’s management, we
determined that Travelzoo’s internal control over financial reporting was effective as of December 31, 2014. The effectiveness
of Travelzoo’s internal control over financial reporting as of December 31, 2014 has been audited by KPMG LLP, Travelzoo’s
independent registered public accounting firm, as stated in their report which appears in Part II, Item 8 of this Annual Report on
Form 10-K.
/s/ CHRISTOPHER LOUGHLIN
Christopher Loughlin
Chief Executive Officer
/s/ GLEN CEREMONY
Glen Ceremony
Chief Financial Officer
February 13, 2015