●  ADOBE INC. · FY 2024 

Controls & Procedures

A strong and stable control environment has been affirmed in recent financial disclosures, confirming that a company’s internal controls over financial reporting remain effective. Management concluded that both disclosure controls and ICFR are operating effectively as of November 29, 2024, without identifying any material weaknesses or significant deficiencies during the reporting period.

ADBE L1 Synthesis
●  SYMBOLOGY.ONLINE l1 SYNTHESIS 

Adobe Inc Controls & Procedures Synthesis

Summary of Disclosure Controls and Internal Controls over Financial Reporting (ICFR)

Management's Conclusions on Control Effectiveness

Management has concluded that both its disclosure controls and procedures, as well as its internal control over financial reporting (ICFR), are effective. This assessment was conducted under the supervision of the Chief Executive Officer and Chief Financial Officer as of November 29, 2024.

Disclosure Controls and Procedures
  • Effectiveness Conclusion: Management concluded that disclosure controls and procedures were effective at a reasonable assurance level.
  • Purpose: These controls ensure that required information is recorded, processed, summarized, and reported within specified time periods, and that it is communicated to management for timely decision-making.
Internal Control Over Financial Reporting (ICFR)
  • Effectiveness Conclusion: Management concluded that ICFR is effective as of November 29, 2024.
  • Criteria Used: The assessment utilized the criteria established in the Committee of Sponsoring Organizations of the Treadway Commission's (COSO) Internal Control - Integrated Framework (2013).
  • External Attestation: KPMG LLP, the independent registered public accounting firm, has issued an attestation report on ICFR.

Identified Weaknesses and Deficiencies

The company did not identify any material weaknesses or significant deficiencies in its controls during the reporting period. However, management provided a standard disclaimer regarding inherent limitations:

  • Inherent Limitations: Management noted that no control system can provide absolute assurance against all errors and fraud, due to resource constraints and the nature of control systems.

Changes and New Procedures During the Reporting Period

The company reported significant stability in its control environment during the quarter ended November 29, 2024:

  • Changes: There were no changes in internal control over financial reporting that materially affected or are reasonably likely to materially affect ICFR.
  • New Controls/Remediation: No noteworthy new controls or specific remediation efforts for identified issues were disclosed in this section of the filing.

Balanced Assessment Summary

The company demonstrates a strong and stable control environment, evidenced by management's conclusion that both disclosure controls and ICFR are effective as of November 29, 2024, with no material weaknesses reported. The stability is further supported by the finding that there were no material changes to internal controls during the reporting quarter. The only noted limitation is the standard acknowledgment of inherent risks in any control system.