Kimberly-Clark 2007 Annual Report Download - page 102

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PART II
(Continued)
ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
FINANCIAL DISCLOSURE
None.
ITEM 9A. CONTROLS AND PROCEDURES
Disclosure Controls and Procedures
As of December 31, 2007, an evaluation was performed under the supervision and with the participation of
the Corporation’s management, including the Chief Executive Officer and Chief Financial Officer, of the
effectiveness of the design and operation of the Corporation’s disclosure controls and procedures. Based on that
evaluation, the Corporation’s management, including the Chief Executive Officer and Chief Financial Officer,
concluded that the Corporation’s disclosure controls and procedures were effective as of December 31, 2007.
Internal Control Over Financial Reporting
Management’s Report on the Financial Statements
Kimberly-Clark Corporation’s management is responsible for all aspects of the business, including the
preparation of the consolidated financial statements in this annual report. The consolidated financial statements
have been prepared using generally accepted accounting principles considered appropriate in the circumstances
to present fairly the Corporation’s consolidated financial position, results of operations and cash flows on a
consistent basis. Management also has prepared the other information in this annual report and is responsible for
its accuracy and consistency with the consolidated financial statements.
As can be expected in a complex and dynamic business environment, some financial statement amounts are
based on estimates and judgments. Even though estimates and judgments are used, measures have been taken to
provide reasonable assurance of the integrity and reliability of the financial information contained in this annual
report. These measures include an effective control-oriented environment in which the internal audit function
plays an important role and an Audit Committee of the Board of Directors that oversees the financial reporting
process. The consolidated financial statements have been audited by the independent registered public accounting
firm, Deloitte & Touche LLP. During its audits, Deloitte & Touche LLP was given unrestricted access to all
financial records, including minutes of all meetings of stockholders and the Board of Directors and all
committees of the Board. Management believes that all representations made to the independent registered public
accountants during their audits were valid and appropriate.
Audit Committee Oversight and the Corporation’s Code of Conduct
The Audit Committee of the Board of Directors, which is composed solely of independent directors, assists
the Board in fulfilling its responsibility for oversight of the quality and integrity of the accounting, auditing and
financial reporting practices of the Corporation; the audits of its consolidated financial statements; and internal
control over financial reporting. The Audit Committee reviews with the auditors any relationships that may affect
their objectivity and independence. The Audit Committee also reviews with management, the internal auditors
and the independent registered public accounting firm the quality and adequacy of the Corporation’s internal
control over financial reporting, including compliance matters related to the Corporation’s code of conduct, and
the results of the internal and external audits. The Audit Committee has reviewed and recommended that the
audited consolidated financial statements included in this report be included in the Form 10-K for filing with the
Securities and Exchange Commission.
82