Xerox 2009 Annual Report Download - page 89

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87Xerox 2009 Annual Report
Reports of Management
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, 2009.
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.
Ursula M. Burns
Chief Executive Officer
Lawrence A. Zimmerman
Chief Financial Officer
Gary R. Kabureck
Chief Accounting Officer