Pier 1 2010 Annual Report Download - page 77

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Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.
None.
Item 9A. Controls and Procedures.
EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES
The Company maintains disclosure controls and procedures, as defined in Rule 13a-15(e) under the
Securities Exchange Act of 1934, as amended, (the “Exchange Act”), that are designed to ensure that information
required to be disclosed by the Company in its reports filed or furnished under the Exchange Act is (a) recorded,
processed, summarized, and reported within the time periods specified in the Securities and Exchange
Commission’s rules and forms, and that such information is (b) accumulated and communicated to the
Company’s management, including the Chief Executive Officer and Chief Financial Officer, as appropriate to
allow timely decisions regarding the required disclosure.
As required by Rules 13a-15 and 15d-15 under the Exchange Act, an evaluation was conducted under the
supervision and with the participation of the Company’s management, including the Chief Executive Officer and
Chief Financial Officer, of the effectiveness of the design and operation of the Company’s disclosure controls
and procedures as of February 27, 2010. Based on this evaluation, the Chief Executive Officer and Chief
Financial Officer have concluded, with reasonable assurance, that the Company’s disclosure controls and
procedures were effective as of such date.
REPORT OF MANAGEMENT ON INTERNAL CONTROL OVER FINANCIAL REPORTING
Management is responsible for establishing and maintaining a system of internal control over financial
reporting designed to provide reasonable assurance that transactions are executed in accordance with
management authorization and that such transactions are properly recorded and reported in the financial
statements, and that records are maintained so as to permit preparation of the financial statements in accordance
with U.S. generally accepted accounting principles. Because of its inherent limitations, internal control over
financial reporting may not prevent or detect misstatements. Management has assessed the effectiveness of the
Company’s internal control over financial reporting utilizing the criteria set forth by the Committee of
Sponsoring Organizations of the Treadway Commission in Internal Control–Integrated Framework. Management
concluded that based on its assessment, Pier 1 Imports, Inc.’s internal control over financial reporting was
effective as of February 27, 2010. Ernst & Young LLP, an independent registered public accounting firm, has
audited the Company’s internal control over financial reporting as of February 27, 2010, as stated in their report
which is included in this Annual Report on Form 10-K.
/s/ Alexander W. Smith
Alexander W. Smith
President and
Chief Executive Officer
/s/ Charles H. Turner
Charles H. Turner
Executive Vice President and
Chief Financial Officer
CHANGES IN INTERNAL CONTROL OVER FINANCIAL REPORTING
There were no changes in the Company’s internal control over financial reporting during the fourth
quarter of fiscal 2010 that would have materially affected, or would have been reasonably likely to materially
affect, the Company’s internal control over financial reporting.
71