US Postal Service 2014 Annual Report Download - page 69

2014 Report on Form 10-K United States Postal Service 65
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
None.
Item 9A. Controls and Procedures
(a) Disclosure Controls and Procedures
We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in
quarterly and annual reports is recorded, processed, summarized and reported within the time frames specified by P.L. 109-435
and that this information is accumulated and communicated to management, including the Postmaster General and Chief
Financial Officer, as appropriate, to allow timely decisions regarding required disclosure.
We carried out an evaluation, under the supervision and with the participation of management, including the Postmaster General
and Chief Financial Officer, of the effectiveness of the design and operation of disclosure controls and procedures as of
September 30, 2014. Based upon and as of the date of the evaluation, the Postmaster General and Chief Financial Officer
concluded that our disclosure controls and procedures were effective.
(b) 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 (1992) 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, 2014.
(c) 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,
2014, that have materially affected, or are reasonably likely to materially affect, the Postal Service’s internal control over
financial reporting.
(d) Report of Independent Registered Public Accounting Firm
The effectiveness of our internal control over financial reporting as of September 30, 2014, 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 40.
Item 9B. Other Information
None.