US Postal Service 2011 Annual Report Download - page 46

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2011 Report on Form 10-K United States Postal Service - 44 -
CHANGES IN INTERNAL CONTROL OVER
FINANCIAL REPORTING
There were no changes in the Postal Service’s internal
controls over financial reporting during the quarter ended
September 30, 2011, that have materially affected, or are
reasonably likely to materially affect, the Postal Service’s
internal control over financial reporting.
MANAGEMENT’S REPORT ON INTERNAL
CONTROL OVER FINANCIAL REPORTING
Our management is responsible for establishing and
maintaining adequate controls over financial reporting.
Internal control over financial reporting is a process to
provide reasonable assurance regarding the reliability of
our financial reporting for external purposes in accordance
with accounting principles generally accepted in the
United States of America. Internal control over financial
reporting includes maintaining records that, in reasonable
detail, accurately and fairly reflect our transactions,
providing reasonable assurance that transactions are
recorded as necessary for the preparation of our financial
statements, providing reasonable assurance that receipts
and expenditures of assets are made in accordance with
management authorization and providing reasonable
assurance that unauthorized acquisition, use or
disposition of assets that could have a material effect on
our financial statements would be prevented or detected
on a timely basis. Because of its inherent limitations,
internal control over financial reporting is not intended to
provide absolute assurance that a misstatement of our
financial statements would be prevented or detected.
Management 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 this evaluation, management concluded that our
internal control over financial reporting was effective as of
September 30, 2011.
REPORT OF INDEPENDENT REGISTERED
PUBLIC ACCOUNTING FIRM
The effectiveness of our internal control over financial
reporting as of September 30, 2011, has been audited by
Ernst & Young LLP, the independent registered public
accounting firm who also audited our financial statements
included in this Annual Report on Form 10-K. Ernst &
Young LLP’s report on our internal control over financial
reporting is included in this Annual Report on Form 10-K
on Page 61.
ITEM 9B — OTHER INFORMATION
None.