Abbott Laboratories 2012 Annual Report Download - page 48

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46
Abbott 2012 Annual Report
Management Report on Internal Control
Over Financial Reporting
The management of Abbott Laboratories is responsible for establishing
and maintaining adequate internal control over financial reporting. Abbott’s
internal control system was designed to provide reasonable assurance to
the company’s management and board of directors regarding the prep-
aration and fair presentation of published financial statements.
All internal control systems, no matter how well designed, have
inherent limitations. Therefore, even those systems determined to
be effective can provide only reasonable assurance with respect
to financial statement preparation and presentation.
Abbott’s management assessed the effectiveness of the company’s
internal control over financial reporting as of December 31, 2012.
In making this assessment, it used the criteria set forth in Internal
Control — Integrated Framework issued by the Committee of Sponsoring
Organizations of the Treadway Commission. Based on our assessment,
we believe that, as of December 31, 2012, the company’s internal control
over financial reporting was effective based on those criteria.
Abbott’s independent registered public accounting firm has issued an
audit report on their assessment of the effectiveness of the company’s
internal control over financial reporting. This report appears on page 47.
Miles D. White
Chairman of the Board and Chief Executive Officer
Thomas C. Freyman
Executive Vice President, Finance and Chief Financial Officer
Greg W. Linder
Vice President and Controller
February 15, 2013