AIG 2015 Annual Report Download - page 348

348
PART II
ITEM 9 / CHANGES IN AND DISAGREEMENTS WITH
ACCOUNTANTS ON ACCOUNTING AND FINANCIAL
DISCLOSURE
None.
ITEM 9A / CONTROLS AND PROCEDURES
EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES
Disclosure controls and procedures are designed to ensure that information required to be disclosed in reports filed or
submitted under the Securities Exchange Act of 1934, as amended (the Exchange Act) is recorded, processed, summarized
and reported within the time periods specified in SEC rules and forms and that such information is accumulated and
communicated to management, including the Chief Executive Officer and Chief Financial Officer, to allow timely decisions
regarding required disclosures. In connection with the preparation of this Annual Report on Form 10-K, an evaluation was
carried out by AIG management, with the participation of AIG’s Chief Executive Officer and Chief Financial Officer, of the
effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange
Act), as of December 31, 2015. Based on this evaluation, AIG’s Chief Executive Officer and Chief Financial Officer concluded
that our disclosure controls and procedures were effective as of December 31, 2015.
Management’s Report on Internal Control Over Financial Reporting
Management of AIG is responsible for establishing and maintaining adequate internal control over financial reporting. AIG’s
internal control over financial reporting is a process, under the supervision of AIG’s Chief Executive Officer and Chief Financial
Officer, designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of AIG’s
financial statements for external purposes in accordance with U.S. GAAP.
Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also,
projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate
because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.
AIG management conducted an assessment of the effectiveness of our internal control over financial reporting as of December
31, 2015 based on the criteria established in the 2013 Internal Control – Integrated Framework issued by the Committee of
Sponsoring Organizations of the Treadway Commission (COSO).
AIG management has concluded that, as of December 31, 2015, our internal control over financial reporting was effective
based on the criteria articulated in the 2013 Internal Control – Integrated Framework issued by the COSO. The effectiveness
of our internal control over financial reporting as of December 31, 2015 has been audited by PricewaterhouseCoopers LLP, an
independent registered public accounting firm, as stated in their report, which is included in this Annual Report on Form 10-K.