Baker Hughes 2013 Annual Report Download - page 74

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2013 Annual Report 44
44
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
Management’s Report on Internal Control Over Financial Reporting
Our management is responsible for establishing and maintaining adequate internal control over our financial
reporting, as such term is defined in Exchange Act Rules 13a-15(f). Our 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.
Under the supervision and with the participation of our management, including our principal executive officer
and principal financial officer, we assessed the effectiveness of our internal control over financial reporting based on
the framework in Internal Control - Integrated Framework issued by the Committee of Sponsoring Organizations of
the Treadway Commission. Based on our assessment, our principal executive officer and principal financial officer
concluded that our internal control over financial reporting was effective as of December 31, 2013. This conclusion
is based on the recognition that there are inherent limitations in all systems of internal control. Because of the
inherent limitations of internal control over financial reporting, including the possibility of collusion or improper
management override of controls, material misstatements due to error or fraud may not be prevented or detected
on a timely basis. 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.
Deloitte & Touche LLP, the Company’s independent registered public accounting firm, has issued an attestation
report on the effectiveness of the Company’s internal control over financial reporting.
/s/ MARTIN S. CRAIGHEAD
Martin S. Craighead
Chairman and
Chief Executive Officer
/s/ PETER A. RAGAUSS
Peter A. Ragauss
Senior Vice President and
Chief Financial Officer
/s/ ALAN J. KEIFER
Alan J. Keifer
Vice President and
Controller
Houston, Texas
February 12, 2014