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These excerpts taken from the BZC 10-K filed May 29, 2009. Management’s
Report on Internal Control Over Financial Reporting
The management of Breeze-Eastern Corporation is responsible for
establishing and maintaining adequate internal control over
financial reporting and for its assessment of the effectiveness
of internal control over financial reporting. As defined by the
Securities and Exchange Commission, internal control over
financial reporting is a process designed by, or under the
supervision of the Company’s principal executive and
financial officers and effected by the Board of Directors,
management, and other personnel to provide reasonable assurance
to the Company’s management and Board of Directors
regarding the reliability of financial reporting and the
preparation and fair presentation of published financial
statements.
The Company’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 Company’s transactions
and dispositions of its assets; (ii) provide reasonable
assurance that transactions are recorded as necessary to permit
preparation of the consolidated financial statements in
accordance with generally accepted accounting principles and
that the Company’s receipts and expenditures are being made
only in accordance with authorization of management and the
Board of Directors; and (iii) provide reasonable assurance
regarding prevention or timely detection of unauthorized
acquisition, use, or disposition of the Company’s assets
that could have a material adverse effect on the consolidated
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.
The Company’s management assessed the effectiveness of the
Company’s internal control over financial reporting as of
March 31, 2009. In making this assessment, the
Company’s management used the criteria established by the
Committee of Sponsoring Organizations of the Treadway Commission
in Internal Control-Integrated Framework.
Management believes that, as of March 31, 2009, the
Company’s internal control over financial reporting is
effective based on the established criteria.
None.
Management’s Report on Internal Control Over Financial Reporting The management of Breeze-Eastern Corporation is responsible for establishing and maintaining adequate internal control over financial reporting and for its assessment of the effectiveness of internal control over financial reporting. As defined by the Securities and Exchange Commission, internal control over financial reporting is a process designed by, or under the supervision of the Company’s principal executive and financial officers and effected by the Board of Directors, management, and other personnel to provide reasonable assurance to the Company’s management and Board of Directors regarding the reliability of financial reporting and the preparation and fair presentation of published financial statements. The Company’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 Company’s transactions and dispositions of its assets; (ii) provide reasonable assurance that transactions are recorded as necessary to permit preparation of the consolidated financial statements in accordance with generally accepted accounting principles and that the Company’s receipts and expenditures are being made only in accordance with authorization of management and the Board of Directors; and (iii) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the Company’s assets that could have a material adverse effect on the consolidated 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. The Company’s management assessed the effectiveness of the Company’s internal control over financial reporting as of March 31, 2009. In making this assessment, the Company’s management used the criteria established by the Committee of Sponsoring Organizations of the Treadway Commission in Internal Control-Integrated Framework. Management believes that, as of March 31, 2009, the Company’s internal control over financial reporting is effective based on the established criteria.
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