Visa 2010 Annual Report Download - page 139

Table of Contents
ITEM 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosures
Not applicable.
ITEM 9A. Controls and Procedures
Evaluation of Disclosure Controls and Procedures
We maintain a system of disclosure controls and procedures (as defined in the Rules 13a-15(e) and 15(d)-15(e) under the Securities Exchange Act of
1934, as amended (the "Exchange Act")) that is designed to ensure that information required to be disclosed in our Exchange Act reports is recorded,
processed, summarized and reported within the time periods specified in the SEC's rules and forms, and that such information is accumulated and
communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding
required disclosures.
Under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer, we conducted
an evaluation of our disclosure controls and procedures. Based on this evaluation, our Chief Executive Officer and our Chief Financial Officer concluded that,
as of September 30, 2010, our disclosure controls and procedures were effective.
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.
Management's Report on Internal Control over Financial Reporting
The Company's management is responsible for establishing and maintaining adequate internal control over financial reporting for the Company.
Management assessed the effectiveness of Company's internal control over financial reporting as of September 30, 2010. Based on management's assessment,
management has concluded that Company's internal control over financial reporting was effective as of September 30, 2010 using the criteria set forth by the
Committee of Sponsoring Organizations of the Treadway Commission (COSO) in Internal Control—Integrated Framework .
Our internal control over financial reporting is designed to provide reasonable, but not absolute, assurance regarding the reliability of financial reporting
and the preparation of financial statements in accordance with generally accepted accounting principles. There are inherent limitations to the effectiveness of
any system of internal control over financial reporting. These limitations include the possibility of human error, the circumvention or overriding of the system
and reasonable resource constraints. Because of its inherent limitations, our internal control over financial reporting may not prevent or detect misstatements.
Projections of any evaluation of effectiveness to future periods are subject to the risks discussed in Item 1A—Risk Factors in this report.
Based on management's assessment, management has concluded that the Company's internal control over financial reporting was effective as of
September 30, 2010.
The effectiveness of our internal control over financial reporting as of September 30, 2010 has been audited by KPMG LLP, an independent registered
public accounting firm and is included in Item 8 of this Report.
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