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Management of Ameritrade Holding Corporation and its subsidiaries (the “Company”) is responsible for the preparation, consistency, integrity and fair presentation of the consolidated financial statements. The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America applied on a consistent basis and, in management’s opinion, are fairly presented. The financial statements include amounts that are based on management’s informed judgments and best estimates.
Management has established and maintains comprehensive
systems of internal control that provide reasonable
assurance as to the consistency, integrity, and
reliability of the preparation and presentation
of financial statements; the safeguarding of assets;
the effectiveness and efficiency of operations;
and compliance with applicable laws and regulations.
The concept of reasonable assurance is based upon
the recognition that the cost of the controls should
not exceed the benefit derived. Management monitors
the systems of internal control and maintains an
independent internal auditing program that assesses
the effectiveness of internal controls. Management
assessed the Company’s internal control over financial
reporting for financial presentations in conformity
with accounting principles generally accepted in
the United States of America. This assessment was
based on criteria for effective internal control
over financial reporting established in Internal
Control Ð Integrated Framework issued by
the Committee of Sponsoring Organizations of the
Treadway Commission (the COSO Report). Based on
this assessment, management believes that the Company
maintained effective internal control over financial
reporting for financial presentations in conformity
with accounting principles generally accepted in
the United States of America as of September 27,
2002.
The Board of Directors exercises its oversight role with respect to the Company’s systems of internal control primarily through its Audit Committee, which is comprised solely of outside directors. The Audit Committee oversees the Company’s systems of internal control and financial reporting to assess whether their quality, integrity, and objectivity are sufficient to protect shareholders’ investments.
The Company’s consolidated financial statements have been audited by Deloitte & Touche LLP (“Deloitte & Touche”), independent auditors. As part of its audit, Deloitte & Touche considers the Company’s internal controls to establish a basis for reliance thereon in determining the nature, timing, and extent of auditing procedures considered necessary to render its opinion as to the fair presentation, in all material respects, of the consolidated financial statements, which is based on independent audits made in accordance with auditing standards generally accepted in the United States of America. Management’s assertion that the Company maintained effective internal control over financial reporting for financial presentations in conformity with accounting principles generally accepted in the United States of America has been examined by Deloitte & Touche. Management has made available to Deloitte & Touche all the Company’s financial records and related data, and information concerning the Company’s internal control over financial reporting, and believes that all representations made to Deloitte & Touche during its audits and examination were valid and appropriate. |
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Joseph H. Moglia
Chief Executive Officer |
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John R. MacDonald
Executive Vice President, Chief Financial Officer and Treasurer |
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