MasterCard 2013 Annual Report Download - page 58

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54
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, 2013. In making its assessment, management
has utilized the criteria set forth in Internal Control - Integrated Framework (1992 Framework) issued by the Committee
of Sponsoring Organizations of the Treadway Commission (COSO). Management has concluded that, based on its
assessment, MasterCard's internal control over financial reporting was effective as of December 31, 2013. The
effectiveness of MasterCard's internal control over financial reporting as of December 31, 2013 has been audited by
PricewaterhouseCoopers LLP, an independent registered public accounting firm, as stated in their report which appears
on the next page.