XYZ Company maintained a system of internal control over financial reporting, which is designed to provide reasonable assurance to the Company's management and board of directors regarding the preparation of reliable published financial statements. The system contains self-monitoring mechanisms, and actions are taken to correct deficiencies as they are identified. Even as effective internal control system, no matter how well designed, has inherent limitations----including the possibility of the circumvention or overriding of controls----and therefore can provide only reasonable assurance with respect to financial conditions, internal control system effectiveness may vary over time.
The Company assessed its internal control system as of December 31, 199XX in relation to criteria for effective internal control over financial reporting described in "Internal Control - Integrated Framework" issued by the Committee of Sponsoring Organization of the Treadway Commission. Based on this assessment, the Company believed that, as of December 31, 199XX, its system of internal control over financial reporting met those criteria.
XYZ Company
Signature by CEO
Signature by CFO/Chief Accounting Officer
Date