ADP 2000 Annual Report Download - page 34

32
Management is responsible for the
preparation of the accompanying finan-
cial statements. The financial statements,
which include amounts based on the
application of business judgments, have
been prepared in conformity with gener-
ally accepted accounting principles.
Deloitte & Touche LLP, independent certi-
fied public accountants, have audited
our consolidated financial statements as
described in their report.
The Company maintains financial
control systems designed to provide
reasonable assurance that assets are
safeguarded and that transactions are
executed and recorded in accordance
with management authorization. The
control systems are supported by written
policies and the control environment
is regularly evaluated by both the
Company’s internal auditors and
Deloitte & Touche.
The Board of Directors has an Audit
Committee comprised of four outside
directors. The Audit Committee meets
with both Deloitte & Touche and
the internal auditors with and without
management’s presence. It monitors
and reviews the Company’s financial
statements and internal controls, and
the scope of the internal auditors’ and
Deloitte & Touche’s audits. Deloitte &
Touche and the internal auditors have
free access to the Audit Committee.
Arthur F. Weinbach
Chairman and Chief
Executive Officer
Richard J. Haviland
Chief Financial Officer
Karen E. Dykstra
Controller
Roseland, New Jersey
August 14, 2000
[report of m anagement]
Board of Directors and Shareholders
Automatic Data Processing, Inc.
Roseland, New Jersey
We have audited the accompanying con-
solidated balance sheets of Automatic
Data Processing, Inc. and subsidiaries as
of June 30, 2000 and 1999, and the related
consolidated statements of earnings,
shareholders’ equity, and cash flows for
each of the three years in the period
ended June 30, 2000. These consolidated
financial statements are the responsibil-
ity of the Company’s management. Our
responsibility is to express an opinion
on these financial statements based on
our audits.
We conducted our audits in accor-
dance with auditing standards generally
accepted in the United States of America.
Those standards require that we plan
and perform the audit to obtain reason-
able assurance about whether the finan-
cial statements are free of material
misstatement. An audit includes examin-
ing, on a test basis, evidence supporting
the amounts and disclosures in the finan-
cial statements. An audit also includes
assessing the accounting principles used
and significant estimates made by man-
agement, as well as evaluating the over-
all financial statement presentation. We
believe that our audits provide a reason-
able basis for our opinion.
In our opinion, such consolidated
financial statements present fairly, in all
material respects, the financial position of
Automatic Data Processing, Inc. and sub-
sidiaries as of June 30, 2000 and 1999, and
the results of its operations and its cash
flows for each of the three years in the
period ended June 30, 2000, in conformity
with accounting principles generally
accepted in the United States of America.
New York, New York
August 14, 2000
[independent auditors’ report]