Pitney Bowes 2009 Annual Report Download - page 49

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31
Management’s Report on Internal Control over Financial Reporting
Management of the Company is responsible for establishing and maintaining adequate internal control over financial reporting as
defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act. The Company’s 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 purposes in accordance with generally accepted accounting principles.
Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections
of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in
conditions, or that the degree of compliance with internal control policies or procedures may deteriorate.
Management assessed the effectiveness of the Company’s internal control over financial reporting as of December 31, 2009. In
making this assessment, management used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway
Commission (COSO) in Internal Control - Integrated Framework. Management’s assessment included evaluating the design of the
Company’s internal control over financial reporting and testing of the operational effectiveness of the Company’s internal control over
financial reporting. Based on our assessment, we concluded that, as of December 31, 2009, the Company’s internal control over
financial reporting was effective based on the criteria issued by COSO in Internal Control – Integrated Framework.
PricewaterhouseCoopers LLP, the independent accountants that audited the Company’s financial statements included in this Form 10-
K, has issued an attestation report on the Company’s internal control over financial reporting, which report is included on page 39 of
this Form 10-K.
Changes in Internal Control over Financial Reporting
There have been no changes in our internal control over financial reporting during the three months ended December 31, 2009, that
have materially affected, or are reasonably likely to materially affect, such internal control over financial reporting.
During 2009, we implemented new software to support the Company's accounting for income taxes. This change in our process
resulted in changes in our internal controls over financial reporting. We have reviewed the system and the controls affected and made
appropriate changes as necessary.
ITEM 9B. – OTHER INFORMATION
None.