Controls & Procedures

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

1. Management's Conclusions on Effectiveness:

Disclosure Controls and Procedures: Management concluded that, as of October 29, 2022, the disclosure controls and procedures were effective to provide reasonable assurance that required information is recorded, processed, summarized, and reported in a timely manner.
Internal Control Over Financial Reporting (ICFR): Management concluded that, as of October 29, 2022, the ICFR was effective, based on the COSO framework (2013).

2. Material Weaknesses or Significant Deficiencies:

The filing does not identify any material weaknesses or significant deficiencies in either the disclosure controls or the internal controls over financial reporting.

3. Changes to Internal Controls:

The company reported that there were no changes in Synopsys' internal control over financial reporting during the fiscal quarter ended October 29, 2022, that materially affected, or are reasonably likely to materially affect, ICFR.

4. Remediation Efforts:

No remediation efforts are reported as necessary or undertaken.

5. Noteworthy New Controls or Procedures:

The filing does not report any noteworthy new controls or procedures introduced during the reporting period.

Item 9A. Controls and Procedures

(a)Evaluation of Disclosure Controls and Procedures. As of October 29, 2022, Synopsys carried out an evaluation under the supervision and with the participation of Synopsys' management, including the Chief Executive Officer and Chief Financial Officer, of the effectiveness of the design and operation of Synopsys' disclosure controls and procedures (as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act). There are inherent limitations to the effectiveness of any system of disclosure controls and procedures. Accordingly, even effective disclosure controls and procedures can only provide reasonable, not absolute, assurance of achieving their control objectives. Our Chief Executive Officer and Chief Financial Officer have concluded that, as of October 29, 2022, Synopsys' disclosure controls and procedures were effective to provide reasonable assurance that information required to be disclosed in the reports Synopsys files and submits under the Exchange Act is recorded, processed, summarized and reported as and when required, and that such information is accumulated and communicated to Synopsys' management, including the Chief Executive Officer and Chief Financial Officer, to allow timely decisions regarding its required disclosure.

(b)Management's Report on Internal Control Over Financial Reporting. Our management is responsible for establishing and maintaining adequate internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) for Synopsys.

Under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer, we conducted an evaluation of the effectiveness of our internal control over financial reporting as of October 29, 2022. In assessing the effectiveness of our internal control over financial reporting, our management used the framework established in Internal Control Integrated Framework (2013) issued by The Committee of Sponsoring Organizations of the Treadway Commission (COSO).

Our management has concluded that, as of October 29, 2022, our internal control over financial reporting was effective based on these criteria. Our independent registered public accounting firm, KPMG LLP, has issued an auditors' report on the effectiveness of our internal control over financial reporting, which is included herein.

(c)Changes in Internal Control Over Financial Reporting. There were no changes in Synopsys' internal control over financial reporting during the fiscal quarter ended October 29, 2022 that have materially affected, or are reasonably likely to materially affect, Synopsys' internal control over financial reporting.

Synopsys Inc Controls & Procedures Analysis

Controls & Procedures