Graco 2010 Annual Report Download - page 45

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Newell Rubbermaid Inc. 2010 Annual Report
NEWELL RUBBERMAID 2010 Annual Report 41
>
MANAGEMENT’S RESPONSIBILITY FOR FINANCIAL STATEMENTS AND
ANNUAL REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING
The management of Newell Rubbermaid Inc. is responsible for the accuracy and internal consistency of the consolidated
financial statements and footnotes contained in this annual report.
The Company’s management is also responsible for establishing and maintaining adequate internal control over financial
reporting. Newell Rubbermaid Inc. operates under a system of internal accounting controls designed 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 internal accounting control system is evaluated for effectiveness by
management and is tested, monitored and revised as necessary. All internal control systems, no matter how well designed,
have inherent limitations. Therefore, even those systems determined to be effective can provide only reasonable assurance
with respect to financial statement preparation and presentation.
The Company’s management assessed the effectiveness of the Company’s internal control over financial reporting as of
December 31, 2010. In making its assessment, the Company’s management used the criteria set forth by the Committee of
Sponsoring Organizations of the Treadway Commission (COSO) in Internal Control—Integrated Framework.
Based on the results of its evaluation, the Company’s management concluded that, as of December 31, 2010, the Company’s
internal control over financial reporting is effective based on those criteria.
The Company’s independent registered public accounting firm, Ernst & Young LLP, has audited the financial statements
prepared by the management of Newell Rubbermaid Inc. and the effectiveness of Newell Rubbermaid Inc.’s internal control
over financial reporting. Their reports on the financial statements and on the effectiveness of Newell Rubbermaid Inc.’s
internal control over financial reporting are presented herein.
NEWELL RUBBERMAID INC.
Atlanta, Georgia
March 1, 2011