Graco 2012 Annual Report Download - page 55

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49
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
MANAGEMENT’S RESPONSIBILITY FOR FINANCIAL STATEMENTS AND ANNUAL REPORT ON INTERNAL
CONTROL OVER FINANCIAL REPORTING
The management of Newell Rubbermaid Inc. is responsible for the accuracy and internal consistency of the consolidated financial
statements and footnotes contained in this annual report.
The Company’s management is also responsible for establishing and maintaining adequate internal control over financial reporting.
Newell Rubbermaid Inc. operates under a system of internal accounting controls designed to provide reasonable assurance regarding
the reliability of financial reporting and the preparation of published financial statements in accordance with generally accepted
accounting principles. The internal accounting control system is evaluated for effectiveness by management and is tested, monitored
and revised as necessary. All internal control systems, no matter how well designed, have inherent limitations. Therefore, even
those systems determined to be effective can provide only reasonable assurance with respect to financial statement preparation
and presentation.
The Company’s management assessed the effectiveness of the Company’s internal control over financial reporting as of
December 31, 2012. In making its assessment, the Company’s management used the criteria set forth by the Committee of
Sponsoring Organizations of the Treadway Commission (COSO) in Internal Control—Integrated Framework.
Based on the results of its evaluation, the Company’s management concluded that, as of December 31, 2012, the Company’s
internal control over financial reporting is effective based on those criteria.
The Company’s independent registered public accounting firm, Ernst & Young LLP, has audited the financial statements prepared
by the management of Newell Rubbermaid Inc. and the effectiveness of Newell Rubbermaid Inc.’s internal control over financial
reporting. Their reports on the financial statements and on the effectiveness of Newell Rubbermaid Inc.’s internal control over
financial reporting are presented herein.
NEWELL RUBBERMAID INC.
Atlanta, Georgia
March 1, 2013