Energizer 2009 Annual Report Download - page 25

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ENERGIZER HOLDINGS INC. 2009 ANNUAL REPORT PAGE 23
Responsibility for Financial Statements
The preparation and integrity of the financial statements of Energizer
Holdings, Inc. (the Company) are the responsibility of its management.
These statements have been prepared in conformance with generally
accepted accounting principles in the United States of America, and
in the opinion of management, fairly present the Company’s financial
position, results of operations and cash flows.
The Company maintains accounting and internal control systems,
which it believes are adequate to provide reasonable assurance that
assets are safeguarded against loss from unauthorized use or disposi-
tion and that the financial records are reliable for preparing financial
statements. The selection and training of qualified personnel, the
establishment and communication of accounting and administrative
policies and procedures, and an extensive program of internal audits
are important elements of these control systems.
The report of PricewaterhouseCoopers LLP, independent registered
public accounting firm, on their audits of the accompanying financial
statements appears herein. This report states that the audits were
made in accordance with the standards of the Public Company
Accounting Oversight Board (United States). These standards include a
study and evaluation of internal control for the purpose of establishing
a basis for reliance thereon relative to the scope of their audits of the
financial statements.
The Board of Directors, through its Audit Committee consisting
solely of non-management directors, meets periodically with
management, internal audit and the independent auditors to
discuss audit and financial reporting matters. To assure indepen-
dence, PricewaterhouseCoopers LLP has direct access to the
Audit Committee.
Management’s Report on Internal Control over
Financial Reporting
The management of the Company is responsible for establishing and
maintaining internal control over financial reporting. The Company’s
internal control over financial reporting is a process designed to provide
reasonable assurance regarding the reliability of financial reporting and
the preparation of financial statements in accordance with generally
accepted accounting principles for external purposes. The Company’s
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 the assets of the Company; (ii) provide reasonable
assurance that transactions are recorded as necessary to permit
preparation of financial statements in accordance 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 (iii) provide
reasonable assurance regarding prevention or timely detection of unau-
thorized acquisition, use, or disposition of the Company’s assets that
could have a material effect on the financial statements. Internal control
over financial reporting, because of its inherent limitations, may not
prevent or detect misstatements. 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.
Management conducted an assessment of the effectiveness of the
Company’s internal control over financial reporting based on the
framework set forth in Internal Control – Integrated Framework,
issued by the Committee of Sponsoring Organizations of the Treadway
Commission. Based on the Company’s assessment, management
has concluded that internal control over financial reporting as of
September 30, 2009 was effective. The Company’s internal control
over financial reporting as of September 30, 2009 has been audited
by PricewaterhouseCoopers LLP, an independent registered public
accounting firm, as stated in their report that appears herein.