Ameriprise 2006 Annual Report Download - page 57

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Management’s Report on Internal Control over Financial Reporting
The management of Ameriprise Financial, Inc. (the “Company”)
is responsible for establishing and maintaining adequate inter-
nal control over financial reporting.
The Company’s internal control over financial reporting is a
process designed to provide reasonable assurance regarding
the reliability of financial reporting and the preparation of
financial statements for external purposes in accordance with
generally accepted accounting principles in the United States
of America, and includes those policies and procedures that:
Pertain to the maintenance of records that, in reasonable
detail, accurately and fairly reflect the transactions and
dispositions of the assets of the Company;
Provide reasonable assurance that transactions are recorded
as necessary to permit preparation of financial statements in
accordance with generally accepted accounting principles,
and that receipts and expenditures of the Company are being
made only in accordance with authorizations of management
and directors of the Company; and
Provide reasonable assurance regarding prevention or timely
detection of unauthorized acquisition, use or disposition of
the Company’s assets that could have a material effect on
the financial statements.
Because of its inherent limitations, internal control over finan-
cial 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.
The Company’s management assessed the effectiveness of
the Company’s internal control over financial reporting as of
December 31, 2006. In making this assessment, the
Company’s management used the criteria set forth by the
Committee of Sponsoring Organizations of the Treadway
Commission in Internal Control—Integrated Framework.
Based on management’s assessment and those criteria,
we believe that, as of December 31, 2006, the Company’s
internal control over financial reporting is effective.
Ernst & Young LLP, the Company’s independent registered
public accounting firm, has issued an audit report appearing
on the following page on our assessment of the effectiveness
of the Company’s internal control over financial reporting as of
December 31, 2006.
55
Ameriprise Financial, Inc. 2006 Annual Report