Ally Bank 2012 Annual Report Download - page 102

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4Item 8. Financial Statements and Supplementary Data
Ally management is responsible for establishing and maintaining effective 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 Senior
Executive Vice President of Finance and Corporate Planning to provide reasonable assurance regarding the reliability of financial reporting
and the preparation of published financial statements in accordance with generally accepted accounting principles.
The Company's internal control over financial reporting includes policies and procedures that (1) pertain to the maintenance of records
that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the Company; (2) provide reasonable
assurance that transactions are recorded as necessary to permit preparation of the Consolidated Financial Statements in conformity with
generally accepted accounting principles, and that receipts and expenditures of the Company are being made only in accordance with
authorizations of management and directors of the Company; and (3) provide reasonable assurance regarding prevention or timely detection
of unauthorized acquisition, use, or disposition of the Company's assets that could have a material effect on the Consolidated Financial
Statements.
Because of its inherent limitations, internal control over financial reporting can provide only reasonable assurance and may not prevent
or detect misstatements. Further, 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.
Management conducted, under the supervision of the Company's Chief Executive Officer and Senior Executive Vice President of
Finance and Corporate Planning, an evaluation of the effectiveness of the Company's internal control over financial reporting based on the
framework in Internal Control — Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission,
commonly referred to as the “COSO” criteria.
Based on the assessment performed, management concluded that at December 31, 2012, Ally's internal control over financial reporting
was effective based on the COSO criteria.
The independent registered public accounting firm, Deloitte & Touche LLP, has audited the Consolidated Financial Statements of Ally
and has issued an attestation report on our internal control over financial reporting at December 31, 2012, as stated in its report, which is
included herein.
/S/ MICHAEL A. CARPENTER /S/ JEFFREY J. BROWN
Michael A. Carpenter Jeffrey J. Brown
Chief Executive Officer Senior Executive Vice President of Finance and Corporate
Planning
March 1, 2013 March 1, 2013
Table of Contents
Management's Report on Internal Control over Financial Reporting
Ally Financial Inc. • Form 10-K