Proctor and Gamble 2015 Annual Report Download - page 46

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The Procter & Gamble Company 44
REPORT OF INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM
To the oard of Directors and Stockholders of
The Procter & Gamble Company
e have audited the internal control over financial reporting of
The Procter & Gamble Company and subsidiaries (the
Company) as of June 30, 2015, based on criteria established
in teral otrol  terated Framewor 2013 issued by
the Committee of Sponsoring Organizations of the Treadway
Commission. The Company's management is responsible for
maintaining effective internal control over financial reporting
and for its assessment of the effectiveness of internal control
over financial reporting, included in the accompanying
Management's Report on Internal Control over Financial
Reporting. Our responsibility is to express an opinion on the
Company's internal control over financial reporting based on
our audit.
e conducted our audit in accordance with the standards of the
Public Company Accounting Oversight oard (United States).
Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether effective internal
control over financial reporting was maintained in all material
respects. Our audit included obtaining an understanding of
internal control over financial reporting, assessing the risk that
a material weakness exists, testing and evaluating the design
and operating effectiveness of internal control based on the
assessed risk, and performing such other procedures as we
considered necessary in the circumstances. e believe that our
audit provides a reasonable basis for our opinion.
A company's internal control over financial reporting is a
process designed by, or under the supervision of, the company's
principal executive and principal financial officers, or persons
performing similar functions, and effected by the company's
board of directors, management, and other personnel 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. A company's internal control over
financial reporting includes those policies and procedures that
(1) pertain to the maintenance of records that, in reasonable
detail, accurately and fairly reflect the transactions and
dispositions of the assets of the company (2) provide
reasonable assurance that transactions are recorded as
necessary to permit preparation of financial statements in
accordance with generally accepted accounting principles, and
that receipts and expenditures of the company are being made
only in accordance with authorizations of management and
directors of the company and (3) provide reasonable assurance
regarding prevention or timely detection of unauthorized
acquisition, use, or disposition of the company's assets that
could have a material effect on the financial statements.
ecause of the inherent limitations of internal control over
financial reporting, including the possibility of collusion or
improper management override of controls, material
misstatements due to error or fraud may not be prevented or
detected on a timely basis. Also, projections of any evaluation
of the effectiveness of the internal control over financial
reporting to future periods are subject to the risk that the controls
may become inadequate because of changes in conditions, or
that the degree of compliance with the policies or procedures
may deteriorate.
In our opinion, the Company maintained, in all material
respects, effective internal control over financial reporting as
of June 30, 2015, based on the criteria established in teral
otrol  terated Framewor 2013 issued by the
Committee of Sponsoring Organizations of the Treadway
Commission.
e have also audited, in accordance with the standards of the
Public Company Accounting Oversight oard (United States),
the Consolidated Financial Statements of the Company as of
and for the year ended June 30, 2015 and our report dated
August 7, 2015 expressed an unqualified opinion on those
financial statements.
s eloitte  oche 
Cincinnati, Ohio
August 7, 2015