iHeartMedia 2011 Annual Report Download - page 65

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ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
MANAGEMENT’S REPORT ON FINANCIAL STATEMENTS
The consolidated financial statements and notes related thereto were prepared by and are the responsibility of management. The
financial statements and related notes were prepared in conformity with U.S. generally accepted accounting principles and include
amounts based upon management’s best estimates and judgments.
It is management’s objective to ensure the integrity and objectivity of its financial data through systems of internal controls designed
to provide reasonable assurance that all transactions are properly recorded in our books and records, that assets are safeguarded from
unauthorized use and that financial records are reliable to serve as a basis for preparation of financial statements.
The financial statements have been audited by our independent registered public accounting firm, Ernst & Young LLP, to the extent
required by auditing standards of the Public Company Accounting Oversight Board (United States) and, accordingly, they have
expressed their professional opinion on the financial statements in their report included herein.
The Board of Directors meets with the independent registered public accounting firm and management periodically to satisfy itself
that they are properly discharging their responsibilities. The independent registered public accounting firm has unrestricted access to
the Board, without management present, to discuss the results of their audit and the quality of financial reporting and internal
accounting controls.
/s/ Robert W. Pittman
Chief Executive Officer
/s/Thomas W. Casey
Executive Vice President and Chief Financial Officer
/s/Scott D. Hamilton
Senior Vice President and Chief Accounting Officer
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