3M 2006 Annual Report Download - page 61

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Management is responsible for the integrity and objectivity of the financial information included in this report. The
financial statements have been prepared in accordance with accounting principles generally accepted in the United
States of America. Where necessary, the financial stDWHPHQWVUHIOHFWHVWLPDWHVEDVHGRQPDQDJHPHQW¶VMXGJPHQW
Management has established and maintains a system of internal accounting and other controls for the Company and
its subsidiaries. This system and its established accounting procedures and related controls are designed to provide
reasonable assurance that assets are safeguarded, that the books and records properly reflect all transactions, that
policies and procedures are implemented by qualified personnel, and that published financial statements are properly
SUHSDUHGDQGIDLUO\SUHVHQWHG7KH&RPSDQ\¶V system of internal control is supported by widely communicated written
policies, including business conduct policies, which are designed to require all employees to maintain high ethical
standards in the conduct of Company affairs. Internal auditors continually review the accounting and control system.
3M Company
0DQDJHPHQW¶V5HSRUWRQ,QWHUQDO&RQWURO2YHU)LQDQFLDO5HSRUWLQJ
Management is responsible for establishing and maintaining an adequate system of internal control over financial
reporting. Management conducted an assessmHQWRIWKH&RPSDQ\¶VLQWHUQDOFontrol over financial reporting based on
the framework established by the Committee of Sponsoring Organizations of the Treadway Commission in Internal
&RQWURO±,QWHJUDWHG)UDPHZRUN. Based on the assessment, management concluded that, as of December 31, 2006,
WKH&RPSDQ\¶VLQWHUQDOFRQWURORYHU financial reporting is effective.
0DQDJHPHQW¶VDVVHVVPHQWRIWKHHIIHFWLYHQHVVRIWKH&RPSDQ\¶VLQWHUQDOFRQWrol over financial reporting as of
December 31, 2006 has been audited by PricewaterhouseCoopers LLP, an independent registered public accounting
firm, as stated in their report which is included herein.
3M Company