Anthem Blue Cross 2001 Annual Report Download - page 67

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Report of Management
The management of Anthem, Inc. (the “Company”) is responsible for the preparation, integrity and accuracy of the Company’s
consolidated financial statements included in this Annual Report. Our consolidated financial statements have been prepared in
accordance with accounting principles generally accepted in the United States and include some amounts that are based on
management’s best estimates and judgment. Management has also prepared the other financial information included in this
Annual Report, and is responsible for its accuracy and consistency with the audited consolidated financial statements.
Management is responsible for maintaining internal controls, policies, and procedures designed to provide reasonable assurance
as to the integrity and reliability of the financial records and protection of assets. At Anthem, we maintain an internal auditing
program designed to monitor compliance with policies and procedures and to evaluate the internal control structure.
The consolidated financial statements included in this Annual Report have been audited by the Company’s independent
auditors, Ernst & Young LLP, in accordance with auditing standards generally accepted in the United States. Their audits
include review and tests of the Company’s internal controls to the extent they believe necessary to determine and conduct the
audit procedures that support their opinion. Also, Ernst & Young LLP has discussed with the Audit Committee accounting
principles, estimates and judgments used by management in the preparation of the consolidated financial statements.
The Board of Directors appoints members to the Audit Committee who are neither officers nor employees of the Company.
The Audit Committee meets periodically with management, the internal auditors and the independent auditors to review
financial reports, internal accounting control evaluations and the scope and results of audit efforts. Both the internal auditors
and the independent auditors have full and free access to the Audit Committee, with and without management present.
Larry C. Glasscock Michael L. Smith
President and Executive Vice President and
Chief Executive Officer Chief Financial and Accounting Officer
Report of Independent Auditors
Shareholders and Board of Directors
Anthem, Inc.
We have audited the accompanying consolidated balance sheets of Anthem, Inc. as of December 31, 2001 and 2000, and the
related consolidated statements of income, shareholders’ equity and cash flows for each of the three years in the period ended
December 31, 2001. These financial statements are the responsibility of the Company’s management. Our responsibility is to
express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with auditing standards generally accepted in the United States. Those standards require
that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well
as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the consolidated financial
position of Anthem, Inc. at December 31, 2001 and 2000, and the consolidated results of its operations and its cash flows for
each of the three years in the period ended December 31, 2001, in conformity with accounting principles generally accepted in
the United States.
Indianapolis, Indiana
January 28, 2002
except for Note 21, as to which
the date is February 19, 2002