Abbott Laboratories 2015 Annual Report Download - page 59

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57
ABBOTT 2015 ANNUAL REPORT
MANAGEMENT REPORT ON INTERNAL
CONTROL OVER FINANCIAL REPORTING
The management of Abbott Laboratories is responsible for estab-
lishing and maintaining adequate internal control over financial
reporting. Abbott’s internal control system was designed to pro-
vide reasonable assurance to the company’s management and
board of directors regarding the preparation 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 eective can provide only reasonable assurance with respect to
financial statement preparation and presentation.
Abbott’s management assessed the eectiveness of the company’s
internal control over financial reporting as of December 31, 2015.
In making this assessment, it used the criteria set forth in Internal
Control - Integrated Framework (2013) issued by the Committee of
Sponsoring Organizations of the Treadway Commission. Based on
our assessment, we believe that, as of December 31, 2015, the
company’s internal control over financial reporting was eective
based on those criteria.
Abbott’s independent registered public accounting firm has issued
an audit report on their assessment of the eectiveness of the
company’s internal control over financial reporting. This report
appears on page 58.
Miles D. White
Chairman of the Board and Chief Executive Ocer
Brian B. Yoor
Senior Vice President, Finance and Chief Financial Ocer
Robert E. Funck
Vice President, Controller
February19, 2016