Whirlpool 2006 Annual Report Download - page 25

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22
In 2006, as in the prior two years, we achieved compliance
under Section 404 of the Sarbanes-Oxley (SOX) Act and had
no material weaknesses. We have been able to do this for
the past three years because we had a mature, thoughtful
financial control process in place many years before SOX
came about, and our business controls were effectively
embedded into everything we do each and every day.
Since we began business in 1911, our heritage has been
based upon sound internal controls and accurate financial
reporting, which remain highly valued and critical to our
ongoing success. We have established accounting control
standards and procedures that enable us to ensure all
corporate assets are protected and properly used, and
financial records are accurate and reliable. We also have well-
established policies governing the receipt of money
and process of payments to comply with money-laundering
prevention laws. Our employees share the responsibility
for maintaining and complying with required internal controls
and ensuring that our assets are not misused.
Our code of ethics requires every employee to act responsibly
and maintain the highest levels of personal, business and
legal conduct. In 2006, we updated our code of ethics,
translating it into 11 languages before making a copy available
to each one of our 73,000 employees worldwide. We have
provided employees with a confidential “hotline” to report
ethical issues since 1993, which is now available globally.
Our high levels of financial accountability and business ethics
were once again recognized by several third-party organizations.
We continue to be included in the Dow Jones Sustainability
World, FTSE4Good and KLD Domini SocialSM 400 Indexes,
three prestigious social investment indexes. And, we also were
named one of the 100 best corporate citizens by Business
Ethics magazine, one of only 16 other companies named to
the list each year since the list’s inception in 1999.
Corporate Governance
Conducting Business with Integrity At Whirlpool Corporation we have long said
“there is no right way to do a wrong thing.” That philosophy guides us to this day.
We conduct business with integrity and provide a helping hand to people in times
of need.
Roy W. Templin
Executive Vice President and
Chief Financial Officer
Daniel F. Hopp
Senior Vice President,
Corporate Affairs and
General Counsel