MoneyGram 2004 Annual Report Download - page 46

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Table of Contents
Management's Responsibility Statement
The management of MoneyGram International, Inc. is responsible for the integrity, objectivity and accuracy of the consolidated financial statements of the
Company. The consolidated financial statements are prepared by the Company in accordance with accounting principles generally accepted in the United
States of America using, where appropriate, management's best estimates and judgments. The financial information presented throughout the Annual Report is
consistent with that in the consolidated financial statements.
Management is also responsible for maintaining a system of internal controls and procedures designed to provide reasonable assurance that the books and
records reflect the transactions of the Company and that assets are protected against loss from unauthorized use or disposition. Such a system is maintained
through accounting policies and procedures administered by trained Company personnel and updated on a continuing basis to ensure their adequacy to meet
the changing requirements of our business. The Company requires that all of its affairs, as reflected by the actions of its employees, be conducted according to
the highest standards of personal and business conduct. This responsibility is reflected in our Code of Ethics. At the end of our next fiscal year, our
independent auditors will report on our assertions as to the effectiveness of our internal control over financial reporting as required under Section 404 of the
Sarbanes-Oxley Act of 2002.
The Audit Committee of the Board of Directors, which is composed solely of outside directors, meets quarterly with management, internal audit and the
independent registered public accounting firm to discuss internal accounting control, auditing and financial reporting matters, as well as to determine that the
respective parties are properly discharging their responsibilities. Both our independent registered public accounting firm and internal auditors have had and
continue to have unrestricted access to the Audit Committee without the presence of management.
/s/ PHILIP W. MILNE /s/ DAVID J. PARRIN
Philip W. Milne
President and
Chief Executive Officer
David J. Parrin
Vice President,
Chief Financial Officer
F-2