Xerox 2008 Annual Report Download - page 92

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Reports of Management
Management’s Responsibility for Financial Statements
Our management is responsible for the integrity and objectivity of
all information presented in this annual report. The consolidated
financial statements were prepared in conformity with accounting
principles generally accepted in the United States of America and
include amounts based on management’s best estimates and
judgments. Management believes the consolidated financial
statements fairly reflect the form and substance of transactions
and that the financial statements fairly represent the Company’s
financial position and results of operations.
The Audit Committee of the Board of Directors, which is composed
solely of independent directors, meets regularly with the
independent auditors, PricewaterhouseCoopers LLP, the internal
auditors and representatives of management to review
accounting, financial reporting, internal control and audit matters,
as well as the nature and extent of the audit effort. The Audit
Committee is responsible for the engagement of the independent
auditors. The independent auditors and internal auditors have free
access to the Audit Committee.
Management’s Report on Internal Control Over
Financial Reporting
Our management is responsible for establishing and maintaining
adequate internal control over financial reporting, as such term is
defined in the rules promulgated under the Securities Exchange Act
of 1934. Under the supervision and with the participation of our
management, including our principal executive, financial and
accounting officers, we have conducted an evaluation of the
effectiveness of our internal control over financial reporting based
on the framework in “Internal Control – Integrated Framework”
issued by the Committee of Sponsoring Organizations of the
Treadway Commission.
Based on the above evaluation, management has concluded that
our internal control over financial reporting was effective as of
December 31, 2008.
Anne M. Mulcahy
Chief Executive Officer
Lawrence A. Zimmerman
Chief Financial Officer
Gary R. Kabureck
Chief Accounting Officer
90 Xerox 2008 Annual Report