US Postal Service 2010 Annual Report Download - page 23

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2010 Annual Report United States Postal Service 21
of disclosures in required fi nancial fi lings each
quarter, and commends management for its
ongoing commitment to increased transpar-
ency and accountability. The successful imple-
mentation of SOX, in an organization as large
and complex as the Postal Service, is a truly
impressive achievement.
In directing the conduct of the 2010 fi nancial
statement audit, the Committee met with Ernst
& Young LLP, and approved the scope and
materiality levels they established in their work
plan. The Committee met jointly and indepen-
dently with Chief Financial Offi cer Corbett and
his staff, Ernst & Young LLP, Inspector General
David Williams, and General Counsel Gibbons
throughout the year to discuss the progress
of the audit and to ensure independence and
objectivity in all audit programs.
As a result, the Committee recommended,
and the Board approved, the fi nancial state-
ments for 2010.
James C. Miller III
Chairman
Audit and Finance Committee
“The Postal
Service not only
completed its third
full fi scal year in
compliance with
SEC reporting
rules but also
achieved the
signifi cant
milestone of
successfully
implementing full
SOX compliance.”