MTD » Topics » Managements Report on Internal Control over Financial Reporting

These excerpts taken from the MTD 10-K filed Feb 13, 2009.
Management’s Report on Internal Control over Financial Reporting
 
Our management is responsible for establishing and maintaining adequate internal control over financial reporting. Our internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of the Company’s financial statements for external reporting purposes in accordance with accounting principles generally accepted in the United States of America.
 
Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements.
 
Management assessed the effectiveness of the Company’s internal control over financial reporting as of December 31, 2008. In making this assessment, we used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) in Internal Control — Integrated Framework. Based on our assessment, we concluded that, as of December 31, 2008, the Company’s internal control over financial reporting is effective.
 
PricewaterhouseCoopers, LLP, an independent registered public accounting firm that audited the financial statements included in this Report on Form 10-K, has issued an attestation in their report on our internal control over financial reporting which appears on page F-2.
 
Item 9B.   Other Information
 
None.


38


Table of Contents

 
PART III
 
Item 10.   Directors, Executive Officers of the Registrant and Corporate Governance
 
The executive officers of the Company are set forth below. Officers are appointed by the Board of Directors and serve at the discretion of the Board.
 
             
Name
 
Age
 
Position
 
Robert F. Spoerry(1)
    53     Chairman of the Board of Directors
Olivier A. Filliol
    42     President and Chief Executive Officer
William P. Donnelly
    47     Chief Financial Officer
Peter Bürker
    63     Head of Human Resources
Thomas Caratsch
    50     Head of Laboratory
Hans-Peter von Arb
    54     Head of Retail
Joakim Weidemanis
    39     Head of Product Inspection
Urs Widmer
    58     Head of Industrial
 
 
(1) Mr. Spoerry was Executive Chairman in 2008 and is serving as Chairman as of January 1, 2009.
 
Management’s Report on Internal Control over Financial Reporting
 
Our management is responsible for establishing and maintaining adequate internal control over financial reporting. Our internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of the Company’s financial statements for external reporting purposes in accordance with accounting principles generally accepted in the United States of America.
 
Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements.
 
Management assessed the effectiveness of the Company’s internal control over financial reporting as of December 31, 2008. In making this assessment, we used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) in Internal Control — Integrated Framework. Based on our assessment, we concluded that, as of December 31, 2008, the Company’s internal control over financial reporting is effective.
 
PricewaterhouseCoopers, LLP, an independent registered public accounting firm that audited the financial statements included in this Report on Form 10-K, has issued an attestation in their report on our internal control over financial reporting which appears on page F-2.
 
Item 9B.   Other Information
 
None.


38


Table of Contents

 
PART III
 
Item 10.   Directors, Executive Officers of the Registrant and Corporate Governance
 
The executive officers of the Company are set forth below. Officers are appointed by the Board of Directors and serve at the discretion of the Board.
 
             
Name
 
Age
 
Position
 
Robert F. Spoerry(1)
    53     Chairman of the Board of Directors
Olivier A. Filliol
    42     President and Chief Executive Officer
William P. Donnelly
    47     Chief Financial Officer
Peter Bürker
    63     Head of Human Resources
Thomas Caratsch
    50     Head of Laboratory
Hans-Peter von Arb
    54     Head of Retail
Joakim Weidemanis
    39     Head of Product Inspection
Urs Widmer
    58     Head of Industrial
 
 
(1) Mr. Spoerry was Executive Chairman in 2008 and is serving as Chairman as of January 1, 2009.
 
Management’s Report on Internal Control over Financial Reporting
 
Our management is responsible for establishing and maintaining adequate internal control over financial reporting. Our internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of the Company’s financial statements for external reporting purposes in accordance with accounting principles generally accepted in the United States of America.
 
Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements.
 
Management assessed the effectiveness of the Company’s internal control over financial reporting as of December 31, 2008. In making this assessment, we used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) in Internal Control — Integrated Framework. Based on our assessment, we concluded that, as of December 31, 2008, the Company’s internal control over financial reporting is effective.
 
PricewaterhouseCoopers, LLP, an independent registered public accounting firm that audited the financial statements included in this Report on Form 10-K, has issued an attestation in their report on our internal control over financial reporting which appears on page F-2.
 
Item 9B.   Other Information
 
None.


38


Table of Contents

 
PART III
 
Item 10.   Directors, Executive Officers of the Registrant and Corporate Governance
 
The executive officers of the Company are set forth below. Officers are appointed by the Board of Directors and serve at the discretion of the Board.
 
             
Name
 
Age
 
Position
 
Robert F. Spoerry(1)
    53     Chairman of the Board of Directors
Olivier A. Filliol
    42     President and Chief Executive Officer
William P. Donnelly
    47     Chief Financial Officer
Peter Bürker
    63     Head of Human Resources
Thomas Caratsch
    50     Head of Laboratory
Hans-Peter von Arb
    54     Head of Retail
Joakim Weidemanis
    39     Head of Product Inspection
Urs Widmer
    58     Head of Industrial
 
 
(1) Mr. Spoerry was Executive Chairman in 2008 and is serving as Chairman as of January 1, 2009.
 
Management’s
Report on Internal Control over Financial Reporting



 



Our management is responsible for establishing and maintaining
adequate internal control over financial reporting. Our internal
control over financial reporting is a process designed to
provide reasonable assurance regarding the reliability of
financial reporting and the preparation of the Company’s
financial statements for external reporting purposes in
accordance with accounting principles generally accepted in the
United States of America.


 



Because of its inherent limitations, internal control over
financial reporting may not prevent or detect misstatements.


 



Management assessed the effectiveness of the Company’s
internal control over financial reporting as of
December 31, 2008. In making this assessment, we used the
criteria set forth by the Committee of Sponsoring Organizations
of the Treadway Commission (COSO) in Internal
Control — Integrated Framework. Based on our
assessment, we concluded that, as of December 31, 2008, the
Company’s internal control over financial reporting is
effective.


 



PricewaterhouseCoopers, LLP, an independent registered public
accounting firm that audited the financial statements included
in this Report on
Form 10-K,
has issued an attestation in their report on our internal
control over financial reporting which appears on
page F-2.


 















Item 9B.  

Other
Information



 



None.





38





Table of Contents





 




PART III



 















Item 10.  

Directors,
Executive Officers of the Registrant and Corporate
Governance



 



The executive officers of the Company are set forth below.
Officers are appointed by the Board of Directors and serve at
the discretion of the Board.


 
































































































             


Name


 


Age


 


Position

 


Robert F.
Spoerry(1)



 
 

53
 

 

Chairman of the Board of Directors


Olivier A. Filliol


 
 

42
 

 

President and Chief Executive Officer


William P. Donnelly


 
 

47
 

 

Chief Financial Officer


Peter Bürker


 
 

63
 

 

Head of Human Resources


Thomas Caratsch


 
 

50
 

 

Head of Laboratory


Hans-Peter von Arb


 
 

54
 

 

Head of Retail


Joakim Weidemanis


 
 

39
 

 

Head of Product Inspection


Urs Widmer


 
 

58
 

 

Head of Industrial






 




 




















(1)

Mr. Spoerry was Executive Chairman in 2008 and is
serving as Chairman as of January 1, 2009.


 



Management’s
Report on Internal Control over Financial Reporting



 



Our management is responsible for establishing and maintaining
adequate internal control over financial reporting. Our internal
control over financial reporting is a process designed to
provide reasonable assurance regarding the reliability of
financial reporting and the preparation of the Company’s
financial statements for external reporting purposes in
accordance with accounting principles generally accepted in the
United States of America.


 



Because of its inherent limitations, internal control over
financial reporting may not prevent or detect misstatements.


 



Management assessed the effectiveness of the Company’s
internal control over financial reporting as of
December 31, 2008. In making this assessment, we used the
criteria set forth by the Committee of Sponsoring Organizations
of the Treadway Commission (COSO) in Internal
Control — Integrated Framework. Based on our
assessment, we concluded that, as of December 31, 2008, the
Company’s internal control over financial reporting is
effective.


 



PricewaterhouseCoopers, LLP, an independent registered public
accounting firm that audited the financial statements included
in this Report on
Form 10-K,
has issued an attestation in their report on our internal
control over financial reporting which appears on
page F-2.


 















Item 9B.  

Other
Information



 



None.





38





Table of Contents





 




PART III



 















Item 10.  

Directors,
Executive Officers of the Registrant and Corporate
Governance



 



The executive officers of the Company are set forth below.
Officers are appointed by the Board of Directors and serve at
the discretion of the Board.


 
































































































             


Name


 


Age


 


Position

 


Robert F.
Spoerry(1)



 
 

53
 

 

Chairman of the Board of Directors


Olivier A. Filliol


 
 

42
 

 

President and Chief Executive Officer


William P. Donnelly


 
 

47
 

 

Chief Financial Officer


Peter Bürker


 
 

63
 

 

Head of Human Resources


Thomas Caratsch


 
 

50
 

 

Head of Laboratory


Hans-Peter von Arb


 
 

54
 

 

Head of Retail


Joakim Weidemanis


 
 

39
 

 

Head of Product Inspection


Urs Widmer


 
 

58
 

 

Head of Industrial






 




 




















(1)

Mr. Spoerry was Executive Chairman in 2008 and is
serving as Chairman as of January 1, 2009.


 



Management’s
Report on Internal Control over Financial Reporting



 



Our management is responsible for establishing and maintaining
adequate internal control over financial reporting. Our internal
control over financial reporting is a process designed to
provide reasonable assurance regarding the reliability of
financial reporting and the preparation of the Company’s
financial statements for external reporting purposes in
accordance with accounting principles generally accepted in the
United States of America.


 



Because of its inherent limitations, internal control over
financial reporting may not prevent or detect misstatements.


 



Management assessed the effectiveness of the Company’s
internal control over financial reporting as of
December 31, 2008. In making this assessment, we used the
criteria set forth by the Committee of Sponsoring Organizations
of the Treadway Commission (COSO) in Internal
Control — Integrated Framework. Based on our
assessment, we concluded that, as of December 31, 2008, the
Company’s internal control over financial reporting is
effective.


 



PricewaterhouseCoopers, LLP, an independent registered public
accounting firm that audited the financial statements included
in this Report on
Form 10-K,
has issued an attestation in their report on our internal
control over financial reporting which appears on
page F-2.


 















Item 9B.  

Other
Information



 



None.





38





Table of Contents





 




PART III



 















Item 10.  

Directors,
Executive Officers of the Registrant and Corporate
Governance



 



The executive officers of the Company are set forth below.
Officers are appointed by the Board of Directors and serve at
the discretion of the Board.


 
































































































             


Name


 


Age


 


Position

 


Robert F.
Spoerry(1)



 
 

53
 

 

Chairman of the Board of Directors


Olivier A. Filliol


 
 

42
 

 

President and Chief Executive Officer


William P. Donnelly


 
 

47
 

 

Chief Financial Officer


Peter Bürker


 
 

63
 

 

Head of Human Resources


Thomas Caratsch


 
 

50
 

 

Head of Laboratory


Hans-Peter von Arb


 
 

54
 

 

Head of Retail


Joakim Weidemanis


 
 

39
 

 

Head of Product Inspection


Urs Widmer


 
 

58
 

 

Head of Industrial






 




 




















(1)

Mr. Spoerry was Executive Chairman in 2008 and is
serving as Chairman as of January 1, 2009.


 



Management’s
Report on Internal Control over Financial Reporting



 



Our management is responsible for establishing and maintaining
adequate internal control over financial reporting. Our internal
control over financial reporting is a process designed to
provide reasonable assurance regarding the reliability of
financial reporting and the preparation of the Company’s
financial statements for external reporting purposes in
accordance with accounting principles generally accepted in the
United States of America.


 



Because of its inherent limitations, internal control over
financial reporting may not prevent or detect misstatements.


 



Management assessed the effectiveness of the Company’s
internal control over financial reporting as of
December 31, 2008. In making this assessment, we used the
criteria set forth by the Committee of Sponsoring Organizations
of the Treadway Commission (COSO) in Internal
Control — Integrated Framework. Based on our
assessment, we concluded that, as of December 31, 2008, the
Company’s internal control over financial reporting is
effective.


 



PricewaterhouseCoopers, LLP, an independent registered public
accounting firm that audited the financial statements included
in this Report on
Form 10-K,
has issued an attestation in their report on our internal
control over financial reporting which appears on
page F-2.


 















Item 9B.  

Other
Information



 



None.





38





Table of Contents





 




PART III



 















Item 10.  

Directors,
Executive Officers of the Registrant and Corporate
Governance



 



The executive officers of the Company are set forth below.
Officers are appointed by the Board of Directors and serve at
the discretion of the Board.


 
































































































             


Name


 


Age


 


Position

 


Robert F.
Spoerry(1)



 
 

53
 

 

Chairman of the Board of Directors


Olivier A. Filliol


 
 

42
 

 

President and Chief Executive Officer


William P. Donnelly


 
 

47
 

 

Chief Financial Officer


Peter Bürker


 
 

63
 

 

Head of Human Resources


Thomas Caratsch


 
 

50
 

 

Head of Laboratory


Hans-Peter von Arb


 
 

54
 

 

Head of Retail


Joakim Weidemanis


 
 

39
 

 

Head of Product Inspection


Urs Widmer


 
 

58
 

 

Head of Industrial






 




 




















(1)

Mr. Spoerry was Executive Chairman in 2008 and is
serving as Chairman as of January 1, 2009.


 



These excerpts taken from the MTD 10-K filed Feb 15, 2008.
Management’s Report on Internal Control over Financial Reporting
 
Our management is responsible for establishing and maintaining adequate internal control over financial reporting. Our internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of the Company’s financial statements for external reporting purposes in accordance with accounting principles generally accepted in the United States of America.
 
Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements.
 
Management assessed the effectiveness of the Company’s internal control over financial reporting as of December 31, 2007. In making this assessment, we used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) in Internal Control — Integrated Framework. Based on our assessment, we concluded that, as of December 31, 2007, the Company’s internal control over financial reporting is effective.
 
PricewaterhouseCoopers, LLP, an independent registered public accounting firm that audited the financial statements included in this Report on Form 10-K, has issued an attestation report on our internal control over financial reporting which appears on page F-2.
 
Item 9B.   Other Information
 
None.


34


Table of Contents

 
PART III
 
Item 10.   Directors, Executive Officers of the Registrant and Corporate Governance
 
The executive officers of the Company are set forth below. Officers are appointed by the Board of Directors and serve at the discretion of the Board.
 
             
Name
 
Age
 
Position
 
Robert F. Spoerry(1)
    52     Executive Chairman of the Board of Directors
Olivier A. Filliol(1)
    41     President and Chief Executive Officer
William P. Donnelly
    46     Chief Financial Officer
Peter Bürker
    62     Head of Human Resources
Thomas Caratsch
    49     Head of Laboratory
Hans-Peter von Arb
    53     Head of Retail
Joakim Weidemanis
    38     Head of Product Inspection
Urs Widmer
    57     Head of Industrial
 
 
(1) Effective as of January 1, 2008
 
Management’s
Report on Internal Control over Financial Reporting



 



Our management is responsible for establishing and maintaining
adequate internal control over financial reporting. Our internal
control over financial reporting is a process designed to
provide reasonable assurance regarding the reliability of
financial reporting and the preparation of the Company’s
financial statements for external reporting purposes in
accordance with accounting principles generally accepted in the
United States of America.


 



Because of its inherent limitations, internal control over
financial reporting may not prevent or detect misstatements.


 



Management assessed the effectiveness of the Company’s
internal control over financial reporting as of
December 31, 2007. In making this assessment, we used the
criteria set forth by the Committee of Sponsoring Organizations
of the Treadway Commission (COSO) in Internal
Control — Integrated Framework. Based on our
assessment, we concluded that, as of December 31, 2007, the
Company’s internal control over financial reporting is
effective.


 



PricewaterhouseCoopers, LLP, an independent registered public
accounting firm that audited the financial statements included
in this Report on
Form 10-K,
has issued an attestation report on our internal control over
financial reporting which appears on
page F-2.


 















Item 9B.  

Other
Information



 



None.





34





Table of Contents





 




PART III



 















Item 10.  


Directors,
Executive Officers of the Registrant and Corporate
Governance



 



The executive officers of the Company are set forth below.
Officers are appointed by the Board of Directors and serve at
the discretion of the Board.


 
































































































             


Name


 


Age


 


Position

 


Robert F.
Spoerry(1)


 
 

52
 

 

Executive Chairman of the Board of Directors


Olivier A.
Filliol(1)


 
 

41
 

 

President and Chief Executive Officer


William P. Donnelly


 
 

46
 

 

Chief Financial Officer


Peter Bürker


 
 

62
 

 

Head of Human Resources


Thomas Caratsch


 
 

49
 

 

Head of Laboratory


Hans-Peter von Arb


 
 

53
 

 

Head of Retail


Joakim Weidemanis


 
 

38
 

 

Head of Product Inspection


Urs Widmer


 
 

57
 

 

Head of Industrial






 




 



















(1)

Effective as of January 1, 2008


 



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