Ameriprise 2007 Annual Report Download - page 56

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54 Ameriprise Financial 2007 Annual Report
The management of Ameriprise Financial, Inc. (the “Company”) is responsible for establishing and maintaining adequate internal control over
financial reporting.
The Company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of finan-
cial 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 authori-
zations 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 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.
The Company’s management assessed the effectiveness of the Company’s internal control over financial reporting as of December 31, 2007. 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, 2007, 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 the effectiveness of the Company’s internal control over financial reporting as of December 31, 2007.
Management’s Report on Internal Control Over
Financial Reporting