Prudential 2007 Annual Report Download - page 99
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CONSOLIDATED FINANCIAL STATEMENTS
Management’s Annual Report on Internal Control Over Financial Reporting
Management of Prudential Financial, Inc. (together with its consolidated subsidiaries, the “Company”) is responsible for establishing
and maintaining adequate internal control over financial reporting. Management conducted an assessment of the effectiveness, as of
December 31, 2007, of the Company’s internal control over financial reporting, based on the framework established in Internal Control—
Integrated Framework Issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Based on our
assessment under that framework, management concluded that the Company’s internal control over financial reporting was effective as of
December 31, 2007.
Our internal control over financial reporting is a process designed by or under the supervision of our principal executive and principal
financial officers 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. Our internal control over financial reporting includes
policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect transactions and
dispositions of assets; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial
statements in accordance with generally accepted accounting principles, and that receipts and expenditures are being made only in
accordance with authorizations of management and the directors of the Company; and (3) provide reasonable assurance regarding
prevention or timely detection of unauthorized acquisition, use, or disposition of the Company’s assets that could have a material effect on
our financial statements.
Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements.
The effectiveness of the Company’s internal control over financial reporting as of December 31, 2007 has been audited by
PricewaterhouseCoopers LLP, an independent registered public accounting firm, as stated in their report accompanying the Consolidated
Financial Statements of the Company included in this Annual Report, which expresses an unqualified opinion on the effectiveness of the
Company’s internal control over financial reporting as of December 31, 2007.
February 27, 2008
Prudential Financial 2007 Annual Report 97