Chevron 2005 Annual Report Download - page 53

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MANAGEMENT’S RESPONSIBILITY FOR FINANCIAL STATEMENTS
To the Stockholders of Chevron Corporation
Management of Chevron is responsible for preparing the accompanying Consolidated Financial Statements and the related infor-
mation appearing in this report. The statements were prepared in accordance with accounting principles generally accepted in
the United States of America and fairly represent the transactions and fi nancial position of the company. The fi nancial statements
include amounts that are based on management’s best estimates and judgment.
As stated in its report included herein, the independent registered public accounting fi rm of PricewaterhouseCoopers LLP
has audited the company’s consolidated fi nancial statements in accordance with the standards of the Public Company Accounting
Oversight Board (United States).
The Board of Directors of Chevron has an Audit Committee composed of directors who are not offi cers or employees of the
company. The Audit Committee meets regularly with members of management, the internal auditors and the independent reg-
istered public accounting fi rm to review accounting, internal control, auditing and fi nancial reporting matters. Both the internal
auditors and the independent registered public accounting fi rm have free and direct access to the Audit Committee without the
presence of management.
MANAGEMENT’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING
The company’s management is responsible for establishing and maintaining adequate internal control over fi nancial reporting,
as such term is defi ned in Exchange Act Rule 13a–15(f). The company’s management, including the Chief Executive Offi cer and
Chief Financial Offi cer, conducted an evaluation of the effectiveness of its internal control over fi nancial reporting based on the
Internal Control – Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission.
Based on the results of this evaluation, the company’s management concluded that its internal control over fi nancial reporting was
effective as of December 31, 2005.
The company management’s assessment of the effectiveness of its internal control over fi nancial reporting as of December 31,
2005, has been audited by PricewaterhouseCoopers LLP, an independent registered public accounting fi rm, as stated in its report
included herein.
DAVID J. O’REILLY STEPHEN J. CROWE MARK A. HUMPHREY
Chairman of the Board Vice President Vice President
and Chief Executive Offi cer and Chief Financial Offi cer and Comptroller
February 27, 2006
CHEVRON CORPORATION 2005 ANNUAL REPORT 51