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control systems
Business control systems are rigorously applied at our operations worldwide. Regular self-assessments and audits ensure that operating controls and standards are met by every operating unit. Our System of Management Control Basic Standards define the basic principles, concepts, and standards that drive our business controls. Our Controls Integrity Management System provides a structured approach for assessing financial control risks, establishing procedures for mitigating concerns, monitoring conformance with standards, and reporting results to management.
Our financial controls meet or exceed the requirements of the Sarbanes-Oxley Act and the NYSE listing standards. In accordance with Sarbanes-Oxley and confirmed in an independent assessment by registered auditors of PricewaterhouseCoopers LLP, a management-issued report on internal controls over financial reporting concluded that our internal controls system is effective.
