Kimberly-Clark 2011 Annual Report Download - page 74
Download and view the complete annual report
Please find page 74 of the 2011 Kimberly-Clark 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.
ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL
DISCLOSURE
1RQH
ITEM 9A. CONTROLS AND PROCEDURES
Disclosure Controls and Procedures
$VRI'HFHPEHUDQHYDOXDWLRQZDVSHUIRUPHGXQGHUWKHVXSHUYLVLRQDQGZLWKWKHSDUWLFLSDWLRQRIRXUPDQDJHPHQW
LQFOXGLQJRXU&KLHI([HFXWLYH2IILFHUDQG&KLHI)LQDQFLDO2IILFHURIWKHHIIHFWLYHQHVVRIWKHGHVLJQDQGRSHUDWLRQRIRXUGLVFORVXUH
FRQWUROVDQGSURFHGXUHV%DVHGRQWKDWHYDOXDWLRQRXUPDQDJHPHQWLQFOXGLQJRXU&KLHI([HFXWLYH2IILFHUDQG&KLHI)LQDQFLDO
2IILFHUFRQFOXGHGWKDWRXUGLVFORVXUHFRQWUROVDQGSURFHGXUHVZHUHHIIHFWLYHDVRI'HFHPEHU
Internal Control Over Financial Reporting
Management’s Report on the Financial Statements
2XU PDQDJHPHQW LV UHVSRQVLEOH IRU DOO DVSHFWV RI WKH EXVLQHVV LQFOXGLQJ WKH SUHSDUDWLRQ RI WKH FRQVROLGDWHG ILQDQFLDO
VWDWHPHQWVLQWKLVDQQXDOUHSRUW7KHFRQVROLGDWHGILQDQFLDOVWDWHPHQWVKDYHEHHQSUHSDUHGXVLQJJHQHUDOO\DFFHSWHGDFFRXQWLQJ
SULQFLSOHVFRQVLGHUHGDSSURSULDWHLQWKHFLUFXPVWDQFHVWRSUHVHQWIDLUO\RXUFRQVROLGDWHGILQDQFLDOSRVLWLRQUHVXOWVRIRSHUDWLRQV
DQGFDVKIORZVRQDFRQVLVWHQWEDVLV0DQDJHPHQWDOVRKDVSUHSDUHGWKHRWKHULQIRUPDWLRQLQWKLVDQQXDOUHSRUWDQGLVUHVSRQVLEOH
IRULWVDFFXUDF\DQGFRQVLVWHQF\ZLWKWKHFRQVROLGDWHGILQDQFLDOVWDWHPHQWV
6RPHILQDQFLDOVWDWHPHQWDPRXQWVDUHEDVHGRQHVWLPDWHVDQGMXGJPHQWVDQGPHDVXUHVKDYHEHHQWDNHQWRSURYLGHUHDVRQDEOH
DVVXUDQFHRIWKHLQWHJULW\DQGUHOLDELOLW\RIWKHILQDQFLDOLQIRUPDWLRQFRQWDLQHGLQWKLVDQQXDOUHSRUW7KHVHPHDVXUHVLQFOXGHDQ
HIIHFWLYHFRQWURORULHQWHGHQYLURQPHQWLQZKLFKWKHLQWHUQDODXGLWIXQFWLRQSOD\VDQLPSRUWDQWUROHDQGDQ$XGLW&RPPLWWHHRIWKH
%RDUGRI'LUHFWRUVWKDWRYHUVHHVWKHILQDQFLDOUHSRUWLQJSURFHVV7KHFRQVROLGDWHGILQDQFLDOVWDWHPHQWVKDYHEHHQDXGLWHGE\WKH
LQGHSHQGHQWUHJLVWHUHGSXEOLFDFFRXQWLQJILUP'HORLWWH7RXFKH//3'XULQJLWVDXGLWV'HORLWWH7RXFKH//3ZDVJLYHQ
XQUHVWULFWHGDFFHVVWRDOOILQDQFLDOUHFRUGVLQFOXGLQJPLQXWHVRIDOOPHHWLQJVRIVWRFNKROGHUVDQGRXU%RDUGRI'LUHFWRUVDQGDOO
FRPPLWWHHVRIRXU%RDUG0DQDJHPHQWEHOLHYHVWKDWDOOUHSUHVHQWDWLRQVPDGHWRWKHLQGHSHQGHQWUHJLVWHUHGSXEOLFDFFRXQWDQWV
GXULQJWKHLUDXGLWVZHUHYDOLGDQGDSSURSULDWH
Audit Committee Oversight and Our Code of Conduct
7KH$XGLW&RPPLWWHHRIRXU%RDUGRI'LUHFWRUVZKLFKLVFRPSRVHGVROHO\RILQGHSHQGHQWGLUHFWRUVDVVLVWVRXU%RDUGLQ
IXOILOOLQJLWVUHVSRQVLELOLW\IRURYHUVLJKWRIWKHTXDOLW\DQGLQWHJULW\RIRXUDFFRXQWLQJDXGLWLQJDQGILQDQFLDOUHSRUWLQJSUDFWLFHV
WKHDXGLWVRIRXUFRQVROLGDWHGILQDQFLDOVWDWHPHQWVDQGLQWHUQDOFRQWURORYHUILQDQFLDOUHSRUWLQJ7KH$XGLW&RPPLWWHHUHYLHZV
ZLWKWKHDXGLWRUVDQ\UHODWLRQVKLSVWKDWPD\DIIHFWWKHLUREMHFWLYLW\DQGLQGHSHQGHQFH7KH$XGLW&RPPLWWHHDOVRUHYLHZVZLWK
PDQDJHPHQWWKHLQWHUQDODXGLWRUVDQGWKHLQGHSHQGHQWUHJLVWHUHGSXEOLFDFFRXQWLQJILUPWKHTXDOLW\DQGDGHTXDF\RIRXULQWHUQDO
FRQWURORYHUILQDQFLDOUHSRUWLQJLQFOXGLQJFRPSOLDQFHPDWWHUVUHODWHGWRRXUFRGHRIFRQGXFWDQGWKHUHVXOWVRILQWHUQDODQGH[WHUQDO
DXGLWV7KH$XGLW&RPPLWWHHKDVUHYLHZHGDQGUHFRPPHQGHGWKDWWKHDXGLWHGFRQVROLGDWHGILQDQFLDOVWDWHPHQWVLQFOXGHGLQWKLV
UHSRUWEHLQFOXGHGLQWKH)RUP.IRUILOLQJZLWKWKH6HFXULWLHVDQG([FKDQJH&RPPLVVLRQ
2XUFRGHRIFRQGXFWDPRQJRWKHUWKLQJVFRQWDLQVSROLFLHVIRUFRQGXFWLQJEXVLQHVVDIIDLUVLQDODZIXODQGHWKLFDOPDQQHU
HYHU\ZKHUHZHGREXVLQHVV IRU DYRLGLQJ SRWHQWLDO FRQIOLFWV RI LQWHUHVW DQG IRU SUHVHUYLQJFRQILGHQWLDOLW\RILQIRUPDWLRQDQG
EXVLQHVVLGHDV,QWHUQDOFRQWUROVKDYHEHHQLPSOHPHQWHGWRSURYLGHUHDVRQDEOHDVVXUDQFHWKDWWKHFRGHRIFRQGXFWLVIROORZHG
Management’s Report on Internal Control Over Financial Reporting
0DQDJHPHQWLVUHVSRQVLEOHIRUHVWDEOLVKLQJDQGPDLQWDLQLQJDQDGHTXDWHV\VWHPRILQWHUQDOFRQWURORYHUILQDQFLDOUHSRUWLQJ
LQFOXGLQJVDIHJXDUGLQJRIDVVHWVDJDLQVWXQDXWKRUL]HGDFTXLVLWLRQXVHRUGLVSRVLWLRQ7KLVV\VWHPLVGHVLJQHGWRSURYLGHUHDVRQDEOH
DVVXUDQFH WR PDQDJHPHQW DQG RXU %RDUG RI 'LUHFWRUV UHJDUGLQJ SUHSDUDWLRQ RI UHOLDEOH SXEOLVKHG ILQDQFLDO VWDWHPHQWV DQG
VDIHJXDUGLQJRIRXUDVVHWV7KLVV\VWHPLVVXSSRUWHGZLWKZULWWHQSROLFLHVDQGSURFHGXUHVFRQWDLQVVHOIPRQLWRULQJPHFKDQLVPV
DQGLVDXGLWHGE\WKHLQWHUQDODXGLWIXQFWLRQ$SSURSULDWHDFWLRQVDUHWDNHQE\PDQDJHPHQWWRFRUUHFWGHILFLHQFLHVDVWKH\DUH
LGHQWLILHG$OOLQWHUQDOFRQWUROV\VWHPVKDYHLQKHUHQWOLPLWDWLRQVLQFOXGLQJWKHSRVVLELOLW\RIFLUFXPYHQWLRQDQGRYHUULGLQJRI
FRQWUROVDQGWKHUHIRUHFDQSURYLGHRQO\UHDVRQDEOHDVVXUDQFHDVWRWKHUHOLDELOLW\RIILQDQFLDOVWDWHPHQWSUHSDUDWLRQDQGVXFK
PART II
&RQWLQXHG