Management has prepared and is responsible for the Company's
Consolidated Financial Statements and related notes. They have
been prepared in accordance with accounting principles generally
accepted in the United States and necessarily include amounts based
on judgments and estimates made by management. All financial
information in this Annual Report is consistent with the financial
statements.
The Company maintains internal accounting control systems and
related policies and procedures designed to provide reasonable assurance
that assets are safeguarded, that transactions are executed in
accordance with management's authorization and are properly
recorded, and that accounting records may be relied upon for the
preparation of financial statements and other financial information.
The design, monitoring and revision of internal accounting control
systems involve, among other things, management's judgment with
respect to the relative cost and expected benefits of specific control
measures. The Company also maintains an internal auditing function,
which evaluates and formally reports on the adequacy and effectiveness
of internal accounting controls, policies and procedures.
The Company's financial statements have been audited by independent
public accountants who have expressed their opinion with
respect to the fairness of these statements.
The Audit Committee of the Board of Directors, composed of
non-employee directors, meets periodically with the independent
public accountants and internal auditors to evaluate the effectiveness
of the work performed by them in discharging their respective
responsibilities and to assure their independent and free access to the
Committee.
John R. Stafford
Chairman and Chief Executive Officer
|
Robert Essner
President and Chief Operating Officer
|
Kenneth J. Martin
Senior Vice President
and Chief Financial
Officer
|
|
Management Report of Financial Statements
