E-Z-GO 2006 Annual Report Download - page 54

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33
Management is responsible for the integrity and objectivity of the financial data presented in this Annual Report on Form 10-K. The consolidated
financial statements have been prepared in conformity with accounting principles generally accepted in the United States and include amounts
based on management’s best estimates and judgments. Management also is responsible for establishing and maintaining adequate internal con-
trol over financial reporting for Textron Inc. as such term is defined in Exchange Act Rules 13a-15(f). With the participation of our management,
we conducted an evaluation of the effectiveness of our internal control over financial reporting based on the framework in Internal Control – Inte-
grated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission. Based on our evaluation under the frame-
work in Internal Control – Integrated Framework, we have concluded that Textron Inc. maintained, in all material respects, effective internal control
over financial reporting as of December 30, 2006.
The independent registered public accounting firm, Ernst & Young LLP, has audited the consolidated financial statements of Textron Inc. and has
issued an attestation report on our assessment of the effectiveness of Textron’s internal control over financial reporting as of December 30, 2006,
as stated in its reports, which are included herein.
We conduct our business in accordance with the standards outlined in the Textron Business Conduct Guidelines, which are communicated to all
employees. Honesty, integrity and high ethical standards are the core values of how we conduct business. Every Textron business prepares and
carries out an annual Compliance Plan to ensure these values and standards are maintained. Our internal control structure is designed to provide
reasonable assurance, at appropriate cost, that assets are safeguarded and that transactions are properly executed and recorded. The internal con-
trol structure includes, among other things, established policies and procedures, an internal audit function, and the selection and training of qual-
ified personnel. Textron’s management is responsible for implementing effective internal control systems and monitoring their effectiveness, as
well as developing and executing an annual internal control plan.
The Audit Committee of our Board of Directors, on behalf of the shareholders, oversees management’s financial reporting responsibilities. The
Audit Committee, composed of four directors who are not officers or employees of Textron, meets regularly with the independent auditors, man-
agement and our internal auditors to review matters relating to financial reporting, internal accounting controls and auditing. Both the indepen-
dent auditors and the internal auditors have free and full access to senior management and the Audit Committee.
Lewis B. Campbell Ted R. French
Chairman, President and Chief Executive Vice President and
Chief Executive Officer Chief Financial Officer
February 14, 2007
Report of Management