SYNOPSYS INC · FY 2021 

Controls & Procedures

Synopsys Inc. concluded that its Internal Control Over Financial Reporting was effective as of October 31, 2021, confirming reliable financial reporting under the COSO framework. Management also determined that disclosure controls and procedures were effective in ensuring required information is recorded and communicated timely for disclosure decisions. No material weaknesses or significant deficiencies were identified during the review period.

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Synopsys Inc Controls & Procedures Analysis

Compliance Review Summary: Disclosure Controls and Internal Controls Over Financial Reporting (ICFR)

Based on the review of Item 9A, Synopsys Inc.'s management has provided the following conclusions regarding its controls and procedures as of October 31, 2021:

Management Conclusions on Effectiveness:

  • Disclosure Controls and Procedures: Management concluded that these controls were effective to provide reasonable assurance that required information is recorded, processed, summarized, reported, accumulated, and communicated timely for disclosure decisions.
  • Internal Control Over Financial Reporting (ICFR): Management concluded that ICFR was effective. This assessment utilized the framework established in the COSO Integrated Framework (2013). An independent registered public accounting firm (KPMG LLP) has issued an auditors' report on this effectiveness.

Material Weaknesses and Significant Deficiencies:

  • No material weaknesses or significant deficiencies were identified or reported within the provided text.

Changes to Internal Controls During the Reporting Period:

  • There were no changes in Synopsys’ internal control over financial reporting during the fiscal quarter ended October 31, 2021, that materially affected or are reasonably likely to materially affect ICFR.

Remediation Efforts and New/Changed Procedures:

  • No remediation efforts for identified issues were necessary, as no material weaknesses were reported. No noteworthy new controls or procedures were introduced during the reporting period.