Motorola 1999 Annual Report Download - page 22

MANAGEMENT’S RESPONSIBILITY
FOR FINANCIAL STATEMENTS
INDEPENDENT
AUDITORS’ REPORT
Management is responsible for the preparation, integrity and objectivity of the consolidated financial statements and
other financial information presented in this report. The accompanying consolidated financial statements were prepared
in accordance with generally accepted accounting principles, applying certain estimates and judgments as required.
Motorola’s internal controls are designed to provide reasonable assurance as to the integrity and reliability of the
financial statements and to adequately safeguard, verify and maintain accountability of assets. Such controls are based
on established written policies and procedures, are implemented by trained, skilled personnel with an appropriate seg-
regation of duties and are monitored through a comprehensive internal audit program. These policies and procedures
prescribe that the Company and all its employees are to maintain the highest ethical standards and that its business
practices throughout the world are to be conducted in a manner which is above reproach.
KPMG LLP, independent auditors, are retained to audit Motorola’s financial statements. Their accompanying report
is based on audits conducted in accordance with generally accepted auditing standards, which include the considera-
tion of the Company’s internal controls to establish a basis for reliance thereon in determining the nature, timing and
extent of audit tests to be applied.
The Board of Directors exercises its responsibility for these financial statements through its Audit and Legal Committee,
which consists entirely of independent non-management Board members. The Audit and Legal Committee meets peri-
odically with the independent auditors and with the Company’s internal auditors, both privately and with management
present, to review accounting, auditing, internal controls and financial reporting matters.
Christopher B. Galvin Carl F. Koenemann
Chairman of the Board and Chief Executive Officer Executive Vice President and Chief Financial Officer
The Board of Directors and Stockholders of Motorola, Inc.:
We have audited, in accordance with generally accepted auditing standards, the consolidated balance sheets of
Motorola, Inc. and subsidiaries as of December 31, 1999 and 1998, and the related consolidated statements of oper-
ations, stockholders’ equity, and cash flows for each of the years in the three-year period ended December 31, 1999,
appearing in the appendix to the proxy statement for the 2000 Annual Meeting of Stockholders of the Corporation
(not presented herein); and in our report dated January 17, 2000, also appearing in that proxy statement appendix,
we expressed an unqualified opinion on those consolidated financial statements.
In our opinion, the information set forth in the accompanying condensed consolidated financial statements is fairly
presented, in all material respects, in relation to the consolidated financial statements from which it has been derived.
KPMG LLP
Chicago, Illinois
January 17, 2000
21 MOTOROLA, INC. AND SUBSIDIARIES