Kimberly-Clark 2015 Annual Report Download - page 66

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, 2015 , an evaluation was performed under the supervision and with the participation of our management, including our Chief Executive
OfficerandChiefFinancialOfficer,oftheeffectivenessofthedesignandoperationofourdisclosurecontrolsandprocedures(asdefinedinRules13a-15(e)and
15d-15(e)oftheSecuritiesExchangeActof1934(ExchangeAct)).Basedonthatevaluation,ourmanagement,includingourChiefExecutiveOfficerandChief
FinancialOfficer,concludedthatourdisclosurecontrolsandprocedureswereeffectiveasofDecember31,2015.
Internal Control Over Financial Reporting
Management's Report on the Financial Statements
Our 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
our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.
Some financial statement amounts are based on estimates and judgments, and 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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ourBoardofDirectorsandallcommitteesofourBoard.Managementbelieves
thatallrepresentationsmadetotheindependentregisteredpublicaccountantsduringtheirauditswerevalidandappropriate.
Audit Committee Oversight and Our Code of Conduct
TheAuditCommitteeofourBoardofDirectors,whichiscomposedsolelyofindependentdirectors,assistsourBoardinfulfillingitsresponsibilityforoversightof
thequalityandintegrityofouraccounting,auditingandfinancialreportingpractices;theauditsofour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 our internal control over
financialreporting,includingcompliancemattersrelatedtoourcodeofconduct,andtheresultsof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.
Ourcodeofconduct,amongotherthings,containspoliciesforconductingbusinessaffairsinalawfulandethicalmannereverywherewedobusiness,foravoiding
potentialconflictsofinterestandforpreservingconfidentialityofinformationandbusinessideas.Internalcontrolshavebeenimplementedtoprovidereasonable
assurancethatthecodeofconductisfollowed.
Management's Report on Internal Control Over Financial Reporting
Management is responsible for establishing and maintaining an adequate system of internal control over financial reporting, including safeguarding of assets
againstunauthorizedacquisition,useordisposition.ThissystemisdesignedtoprovidereasonableassurancetomanagementandourBoardofDirectorsregarding
preparationofreliablepublishedfinancialstatementsandsafeguardingofourassets.Thissystemissupportedwithwrittenpoliciesandprocedures,containsself-
monitoringmechanismsandisauditedbytheinternalauditfunction.Appropriateactionsaretakenbymanagementtocorrectdeficienciesastheyareidentified.
All internal control systems have inherent limitations, including the possibility of circumvention and overriding of controls, and, therefore, can provide only
reasonableassuranceastothereliabilityoffinancialstatementpreparationandsuchassetsafeguarding.
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62 KIMBERLY-CLARKCORPORATION - 2015 Annual Report