Controls & Procedures

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

1. Management's Conclusion on Effectiveness:

Disclosure Controls: Management concluded that the disclosure controls and procedures were effective as of the end of the reporting period.
ICFR: Management concluded that the internal control over financial reporting was effective as of September 24, 2023, based on the COSO framework.
External Audit: The independent registered public accounting firm, PricewaterhouseCoopers LLP, also audited and stated that the internal control over financial reporting was effective as of September 24, 2023.

2. Material Weaknesses or Significant Deficiencies:

No material weaknesses or significant deficiencies in internal controls were identified or reported in the provided text.

3. Changes to Internal Controls:

Noteworthy: There were no changes in the internal control over financial reporting during the fourth quarter of fiscal 2023 that were deemed to have materially affected, or reasonably likely to materially affect, the control system.

4. Remediation Efforts:

No remediation efforts were reported, as no deficiencies were identified.

5. Noteworthy New Controls or Procedures:

No new controls or procedures were introduced or highlighted in the provided text.

Compliance Analyst Summary: The company asserts that both its disclosure controls and its internal controls over financial reporting were effective as of the reporting date. The most noteworthy findings are the consistent conclusion of effectiveness and the confirmation that there were no material changes to the internal control structure during the fourth quarter of fiscal 2023.

Item 9A. Controls and Procedures

Conclusion Regarding the Effectiveness of Disclosure Controls and Procedures

Under the supervision and with the participation of our management, including our principal executive officer and our principal financial officer, we conducted an evaluation of our disclosure controls and procedures, as such terms are defined under Rule 13a-15(e) promulgated under the Securities Exchange Act of 1934, as amended (the Exchange Act). Based on this evaluation, our principal executive officer and our principal financial officer concluded that our disclosure controls and procedures were effective as of the end of the period covered by this Annual Report.

Management's Report on Internal Control over Financial Reporting

Our management is responsible for establishing and maintaining adequate internal control over financial reporting, as such term is defined in Exchange Act Rule 13a-15(f). Under the supervision and with the participation of our management, including our principal executive officer and our principal financial officer, we conducted an evaluation of the effectiveness of our internal control over financial reporting based on the framework in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission. Based on our evaluation under this framework, our management concluded that our internal control over financial reporting was effective as of September 24, 2023.

PricewaterhouseCoopers LLP, the independent registered public accounting firm that audited our consolidated financial statements included in this Annual Report, has also audited the effectiveness of our internal control over financial reporting as of September 24, 2023, as stated in its report which appears on pages F-1 through F-2 in this Annual Report.

Inherent Limitations over Internal Controls

Our internal control over financial reporting is designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of consolidated financial statements for external purposes in accordance with generally accepted accounting principles. Our internal control over financial reporting includes those policies and procedures that:

i.pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of our assets;

ii.provide reasonable assurance that transactions are recorded as necessary to permit preparation of consolidated financial statements in accordance with generally accepted accounting principles, and that our receipts and expenditures are being made only in accordance with authorizations of our management and directors; and

iii.provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of our assets that could have a material effect on the consolidated financial statements.

Internal control over financial reporting cannot provide absolute assurance of achieving financial reporting objectives because of its inherent limitations, including the possibility of human error and circumvention by collusion or overriding of controls. Accordingly, even an effective internal control system may not prevent or detect material misstatements on a timely basis. 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.

Changes in Internal Control over Financial Reporting

There were no changes in our internal control over financial reporting during the fourth quarter of fiscal 2023 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

Qualcomm Inc/de Controls & Procedures Analysis

Controls & Procedures