HP 2014 Annual Report Download - page 91

Management’s Report on Internal Control Over Financial Reporting
HP’s management is responsible for establishing and maintaining adequate internal control over
financial reporting for HP. HP’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 for external purposes in accordance with U.S. generally accepted accounting
principles. HP’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 HP; (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 HP are being made only in
accordance with authorizations of management and directors of HP; and (iii) provide reasonable
assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of
HP’s assets that could have a material effect on the financial statements.
Because of its inherent limitations, internal control over financial reporting 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.
HP’s management assessed the effectiveness of HP’s internal control over financial reporting as of
October 31, 2014, utilizing the criteria set forth by the Committee of Sponsoring Organizations of the
Treadway Commission (COSO) in Internal Control—Integrated Framework (1992 framework). Based
on the assessment by HP’s management, we determined that HP’s internal control over financial
reporting was effective as of October 31, 2014. The effectiveness of HP’s internal control over financial
reporting as of October 31, 2014 has been audited by Ernst & Young LLP, HP’s independent registered
public accounting firm, as stated in their report which appears on page 82 of this Annual Report on
Form 10-K.
/s/ MARGARET C. WHITMAN /s/ CATHERINE A. LESJAK
Margaret C. Whitman Catherine A. Lesjak
Chairman, President and Chief Executive Officer Executive Vice President and Chief Financial Officer
December 17, 2014 December 17, 2014
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