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This excerpt taken from the BP 20-F filed Mar 4, 2008. Changes in internal controls over financial reporting There were no changes in the group’s internal controls over financial reporting that occurred during the period covered by the Form 20-F that have materially affected or are reasonably likely to materially affect our internal controls over financial reporting.
This excerpt taken from the BP 20-F filed Mar 6, 2007.
Changes in internal controls over financial reporting As disclosed in the 2005 20-F, the company changed its accounting treatment for certain over-the-counter forward contracts to account for those contracts on a net basis and implemented improvements in the company’s disclosure controls and procedures and internal controls over financial reporting to ensure the correct accounting for these contracts. During 2006, further improvements were made in the design and operation of the company’s disclosure controls and procedures and internal control over financial reporting following the identification of additional transactions which should have been presented net. These improvements included the training of staff regarding the application of the policy change, implementing additional preventative and detective controls in the internal reporting systems, adding further verification steps and increasing management oversight of compliance therewith. Aside from these improvements, there were no changes in the group’s internal controls over financial reporting that occurred during the period covered by the Form 20-F that have materially affected or are reasonably likely to materially affect our internal controls over financial reporting. | EXCERPTS ON THIS PAGE:
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