Pepsi 2011 Annual Report Download - page 82

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Our management is responsible for establishing and maintaining
adequate internal control over nancial reporting, as such term is
dened in Rule 13a-15(f) of the Exchange Act. Under the supervi-
sion and with the participation of our management, including our
Chief Executive Ocer and Chief Financial Ocer, we conducted an
evaluation of the eectiveness of our internal control over nancial
reporting based upon the framework in Internal Control — Integrated
Framework issued by the Committee of Sponsoring Organizations of
the Treadway Commission. Based on that evaluation, our manage-
ment concluded that our internal control over nancial reporting
was eective as of December31, 2011.
The scope of management’s assessment of the eectiveness
of our internal control over nancial reporting included all of our
consolidated operations except for the operations of Wimm- Bill-
Dann Foods OJSC and its subsidiaries (WBD), which we acquired in
February 2011. WBD’s operations represented 9% of our consoli-
dated total assets and 4% of our consolidated net revenues as of
andfor the year ended December31, 2011.
KPMG LLP, an independent registered public accounting rm,
has audited the consolidated nancial statements included in this
Annual Report and, as part of their audit, has issued their report,
included herein, on the eectiveness of our internal control over
nancial reporting.
During our fourth scal quarter of 2011, we continued migrating
certain of our nancial processing systems to an enterprise- wide
systems solution. These systems implementations are part of our
ongoing global business transformation initiative, and we plan to
continue implementing such systems throughout other parts of our
businesses over the course of the next few years. In connection with
these implementations and resulting business process changes, we
continue to enhance the design and documentation of our internal
control over nancial reporting processes to maintain suitable con-
trols over our nancial reporting. Moreover, we are in the process
of integrating WBD into our overall internal control over nancial
reporting processes.
Except as described above, there were no changes in our internal
control over nancial reporting during our fourth scal quarter of
2011 that have materially aected, or are reasonably likely to materi-
ally aect, our internal control over nancial reporting.
February27, 2012
Marie T. Gallagher
Senior Vice President and Controller
Hugh F. Johnston
Chief Financial Ocer
Indra K. Nooyi
Chairman of the Board of Directors and
Chief Executive Ocer
Management’s Report on Internal Control Over Financial Reporting
PepsiCo, Inc.  Annual Report
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