AIG 2006 Annual Report Download - page 151

American International Group, Inc. and Subsidiaries
Report of Independent Registered Public Accounting Firm Continued
reconcile the differences to the deferred income tax balances. In our opinion, management’s assessment that AIG did not
These control deficiencies resulted in adjustments to income tax maintain effective internal control over financial reporting as of
expense, income taxes payable and deferred income tax asset December 31, 2006 is fairly stated, in all material respects,
and liability accounts in the 2006 annual and interim consolidated based on criteria established in Internal Control — Integrated
financial statements. Furthermore, these control deficiencies Framework issued by the COSO. Also, in our opinion, because of
could result in a material misstatement of the annual or interim the effect of the material weakness described above on the
AIG consolidated financial statements that would not be prevented achievement of the objectives of the control criteria, AIG has not
or detected. Accordingly, AIG management has concluded that maintained effective internal control over financial reporting as of
these control deficiencies constitute a material weakness. December 31, 2006, based on criteria established in Internal
This material weakness was considered in determining the Control — Integrated Framework issued by the COSO.
nature, timing, and extent of audit tests applied in our audit of the
2006 consolidated financial statements, and our opinion regarding PricewaterhouseCoopers LLP
the effectiveness of AIG’s internal control over financial reporting New York, New York
does not affect our opinion on those consolidated financial March 1, 2007
statements.
Form 10-K 2006 AIG 101