MasterCard 2010 Annual Report Download - page 86

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MANAGEMENT’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING
The management of MasterCard Incorporated (“MasterCard”) is responsible for establishing and
maintaining adequate internal control over financial reporting. 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 reporting purposes in accordance with accounting principles
generally accepted in the United States of America. Because of its inherent limitations, internal control over
financial reporting may not prevent or detect misstatements. As required by Section 404 of the Sarbanes-Oxley
Act of 2002, management has assessed the effectiveness of MasterCard’s internal control over financial reporting
as of December 31, 2010. In making its assessment, management has utilized the criteria set forth by the
Committee of Sponsoring Organizations of the Treadway Commission (COSO) in its report entitled Internal
Control—Integrated Framework. Management has concluded that, based on its assessment, MasterCard’s
internal control over financial reporting was effective as of December 31, 2010. The effectiveness of
MasterCard’s internal control over financial reporting as of December 31, 2010 has been audited by
PricewaterhouseCoopers LLP, an independent registered public accounting firm, as stated in their report which
appears on the next page.
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