Harley Davidson 2012 Annual Report Download - page 51

Download and view the complete annual report

Please find page 51 of the 2012 Harley Davidson annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 143

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143

51
REPORT OF THE AUDIT COMMITTEE
The Audit Committee of the Board of Directors reviews the Company’s financial reporting process and the audit process.
All of the Audit Committee members are independent in accordance with the Audit Committee requirements of the New York
Stock Exchange, Inc.
The Audit Committee of the Board of Directors has reviewed and discussed with management its assessment of the
effectiveness of the Company’s internal control system over financial reporting as of December 31, 2012. Management has
concluded that the internal control system was effective. Additionally, the Company’s internal control over financial reporting
as of December 31, 2012 was audited by Ernst & Young LLP, the Company’s independent registered public accounting firm for
the 2012 fiscal year. The Audit Committee has reviewed and discussed the audited financial statements of the Company for the
2012 fiscal year with management as well as with representatives of Ernst & Young LLP. The Audit Committee has also
discussed with Ernst & Young LLP matters required to be discussed under Statement on Auditing Standards No. 61,
Communications with Audit Committees (SAS 61), as amended (AICPA, Professional Standards, Vol. 1, AU section 380) and
adopted by the Public Company Accounting Oversight Board in Rule 3200T. The Audit Committee has received written
disclosures from Ernst & Young LLP regarding their independence as required by PCAOB Ethics and Independence Rule 3526,
Communication with Audit Committees Concerning Independence, and has discussed with representatives of Ernst & Young
LLP the independence of Ernst & Young LLP. Based on the review and discussions referred to above, the Audit Committee has
recommended to the Board of Directors that the audited financial statements for the 2012 fiscal year be included in the
Company’s Annual Report on Form 10-K for the 2012 fiscal year.
February 4, 2013
Audit Committee of the Board of Directors
Richard I. Beattie
Michael J. Cave (as of December 2012)
George L. Miles, Jr.
N. Thomas Linebarger
James A. Norling, Chairman
Jochen Zeitz