Intel 2004 Annual Report Download - page 90

Table of Contents
Not applicable.
Attached as exhibits to this Form 10-K are certifications of Intel’s Chief Executive Officer (CEO) and Chief Financial Officer (CFO),
which are required in accordance with Rule 13a-14 of the Securities Exchange Act of 1934, as amended (the Exchange Act). This “Controls
and Procedures” section includes information concerning the controls and controls evaluation referred to in the certifications. Part II, Item 8 of
this Form 10-K sets forth the report of Ernst & Young LLP, our independent registered public accounting firm, regarding its audit of Intel’s
internal control over financial reporting and of management’s assessment of internal control over financial reporting set forth below in this
section. This section should be read in conjunction with the certifications and the Ernst & Young report for a more complete understanding of
the topics presented.
Evaluation of Disclosure Controls and Procedures
We conducted an evaluation of the effectiveness of the design and operation of our “disclosure controls and procedures” (Disclosure
Controls) as of the end of the period covered by this Form 10-K. The controls evaluation was conducted under the supervision and with the
participation of management, including our CEO and CFO. Disclosure Controls are controls and procedures designed to reasonably assure that
information required to be disclosed in our reports filed under the Exchange Act, such as this Form 10-K, is recorded, processed, summarized
and reported within the time periods specified in the U.S. Securities and Exchange Commission’s (SEC’
s) rules and forms. Disclosure Controls
are also designed to reasonably assure that such information is accumulated and communicated to our management, including the CEO and
CFO, as appropriate to allow timely decisions regarding required disclosure. Our quarterly evaluation of Disclosure Controls includes an
evaluation of some components of our internal control over financial reporting, and internal control over financial reporting is also separately
evaluated on an annual basis for purposes of providing the management report which is set forth below.
The evaluation of our Disclosure Controls included a review of the controls’ objectives and design, the company’s implementation of the
controls and the effect of the controls on the information generated for use in this Form 10-K. In the course of the controls evaluation, we
reviewed identified data errors, control problems or acts of fraud and sought to confirm that appropriate corrective actions, including process
improvements, were being undertaken. This type of evaluation is performed on a quarterly basis so that the conclusions of management,
including the CEO and CFO, concerning the effectiveness of the Disclosure Controls can be reported in our periodic reports on Form 10-Q and
Form 10-K. Many of the components of our Disclosure Controls are also evaluated on an ongoing basis by our Internal Audit Department and
by other personnel in our Finance and Enterprise Services organization. The overall goals of these various evaluation activities are to monitor
our Disclosure Controls, and to modify them as necessary. Our intent is to maintain the Disclosure Controls as dynamic systems that change as
conditions warrant.
Based upon the controls evaluation, our CEO and CFO have concluded that, subject to the limitations noted in this Part II, Item 9A, as of
the end of the period covered by this Form 10-K, our Disclosure Controls were effective to provide reasonable assurance that information
required to be disclosed in our Exchange Act reports is recorded, processed, summarized and reported within the time periods specified by the
SEC, and that material information relating to Intel and its consolidated subsidiaries is made known to management, including the CEO and
CFO, particularly during the period when our periodic reports are being prepared.
Management Report on Internal Control Over Financial Reporting
Our management is responsible for establishing and maintaining adequate internal control over financial reporting to provide reasonable
assurance regarding the reliability of our financial reporting and the preparation of financial statements for external purposes in accordance
with generally accepted accounting principles. 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 the company;
(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 the company are being made only in accordance with
authorizations of management and directors of the company; 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 effect on the financial statements.
Management assessed our internal control over financial reporting as of December 25, 2004, the end of our fiscal year. Management
based its assessment on criteria established in Internal Control–Integrated Framework issued by the Committee of
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ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL
DISCLOSURE
ITEM 9A. CONTROLS AND PROCEDURES