text: A company’s internal control over financial reporting is a process designed by, or under the supervision of, the company’s principal executive and principal financial officers, 
  or persons performing similar functions, and effected by the company’s board of directors, management, and other personnel to provide reasonable assurance regarding the 
  reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company’s 
  internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly 
  reflect the transactions and dispositions of the assets of the company; (2) 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 (3) 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. 
  
  Because of the inherent limitations of internal control over financial reporting, including the possibility of collusion or improper management override of controls, material 
  misstatements due to error or fraud may not be prevented or detected on a timely basis. Also, projections of any evaluation of the effectiveness of the internal control over 
  financial reporting to future periods are subject to the risk that the controls may become inadequate because of changes in conditions, or that the degree of compliance with 
  the policies or procedures may deteriorate. 