MANAGEMENT'S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING The management of the Company is responsible for establishing and maintaining adequate internal control over financial reporting. The internal control over financial reporting is a process designed under the supervision of Company’s the Chief Executive Officer and Chief Financial Officer to provide reasonable assurance regarding the reliability Company’s of financial reporting and the preparation of the financial statements for external purposes in accordance with Company’s generally accepted accounting principles. As of December 31, 2016, management assessed the effectiveness of the internal control over financial Company’s reporting based on the criteria for effective internal control over financial reporting established in the 2013 Control - “Internal issued by the Committee of Sponsoring Organizations of the Treadway Commission. Based on our Integrated Framework,” assessment and those criteria, management determined that the Company maintained effective internal control over financial reporting at December 31, 2016. Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. Grant Thornton LLP, the independent registered public accounting firm that audited the consolidated financial statements of the Company included in this annual report on Form 10-K, has issued their report on the effectiveness of the internal control over financial reporting at December 31, 2016. The report, which expresses an unqualified Company’s opinion on the effectiveness of the internal control over financial reporting at December 31, 2016, is included in Company’s this Item under the of Independent Registered Public Accounting heading “Report Firm.”
MANAGEMENT'S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING The management of the Company is responsible for establishing and maintaining adequate internal control over financial reporting. The Company’s internal control over financial reporting is a process designed under the supervision of the Company’s Chief Executive Officer and Chief Financial Officer to provide reasonable assurance regarding the reliability of financial reporting and the preparation of the Company’s financial statements for external purposes in accordance with generally accepted accounting principles. As of December 31, 2016, management assessed the effectiveness of the Company’s internal control over financial reporting based on the criteria for effective internal control over financial reporting established in the 2013 “Internal Control - Integrated Framework,” issued by the Committee of Sponsoring Organizations of the Treadway Commission. Based on our assessment and those criteria, management determined that the Company maintained effective internal control over financial reporting at December 31, 2016. Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. Grant Thornton LLP, the independent registered public accounting firm that audited the consolidated financial statements of the Company included in this annual report on Form 10-K, has issued their report on the effectiveness of the Company’s internal control over financial reporting at December 31, 2016. The report, which expresses an unqualified opinion on the effectiveness of the Company’s internal control over financial reporting at December 31, 2016, is included in this Item under the heading “Report of Independent Registered Public Accounting Firm.”
Form-10-K.docx