E-Z-GO 2008 Annual Report Download - page 56

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43
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 U.S. generally accepted accounting principles and include amounts based on
management’s best estimates and judgments. Management also is responsible for establishing and maintaining adequate internal control 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 –
Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission. Based on our evaluation under the
framework in Internal Control – Integrated Framework, we have concluded that Textron Inc. maintained, in all material respects, effective internal
control over financial reporting as of January 3, 2009.
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 Textron’s internal controls over financial reporting as of January 3, 2009, 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
control structure includes, among other things, established policies and procedures, an internal audit function, and the selection and training of
qualified 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 consists of five directors who are not officers or employees of Textron and meets regularly with the independent auditors,
management and our internal auditors to review matters relating to financial reporting, internal accounting controls and auditing. Both the
independent auditors and the internal auditors have free and full access to senior management and the Audit Committee.
Lewis B. Campbell Richard L. Yates
Chairman and Chief Senior Vice President, Corporate Controller and
Executive Officer Acting Chief Financial Officer
February 25, 2009
Report of Management