Sunbeam 2013 Annual Report Download - page 35

Jarden Corporation Annual Report 2013 31
Management’s Report on Internal Control Over Financial Reporting
Management of the Company is responsible for establishing and maintaining adequate internal control over nancial reporting as
dened in Rules 13a-15(f) and 15d-15(f) under the Exchange Act. The Company’s internal control over nancial reporting is designed
to provide reasonable assurance regarding the reliability of nancial reporting and the preparation of nancial statements for external
purposes in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The Company’s
internal control over nancial reporting includes those policies and procedures that:
• pertain to the maintenance of records that in reasonable detail accurately and fairly reect the transactions and dispositions of the
assets of the Company;
• provide reasonable assurance that transactions are recorded as necessary to permit preparation of nancial statements
in accordance with GAAP, and that receipts and expenditures of the Company are being made only in accordance with
authorizations of management and directors of the Company; and
• 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 the nancial statements.

Because of its inherent limitations, internal control over nancial reporting may not prevent or detect misstatements. Also, projections
of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in
conditions, or that the degree of compliance with the policies or procedures may deteriorate.
As required by Section404 of the Sarbanes-Oxley Act of 2002, management assessed the effectiveness of the Company’s internal
control over nancial reporting as of December31, 2013. In making this assessment, management used the criteria set forth in the
Internal Control—Integrated Framework (1992) issued by the Committee of Sponsoring Organizations of the Treadway Commission
(COSO).
Based on our assessment and the above criteria, management concluded that the Company maintained effective internal control over
nancial reporting as of December31, 2013.
On October 3, 2013, the Company acquired Yankee Candle. The Company has excluded Yankee Candle from its assessment of internal
control over nancial reporting as of December 31, 2013, because it was acquired by the Company in a purchase business combination
during 2013. Yankee Candle is a wholly-owned subsidiary whose total assets and total net sales excluded from management’s
assessment of internal control over nancial reporting represent approximately 3% and 5%, respectively of the Company’s consolidated
nancial statement amounts as of and for the year ended December 31, 2013.
The effectiveness of the Company’s internal control over nancial reporting as of December31, 2013 has been audited by the
Company’s independent auditor, PricewaterhouseCoopers LLP, an independent registered public accounting rm, and issued their
audit report expressing an unqualied opinion on the Company’s internal control over nancial reporting, as stated in their report which
is included elsewhere herein.
Management’s Report
Jarden Corporation Annual Report 2013