Coca Cola 2014 Annual Report Download - page 137

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135
REPORT OF MANAGEMENT
Management’s Responsibility for the Financial Statements
Management of the Company is responsible for the preparation and integrity of the consolidated financial statements appearing in
our annual report on Form 10-K. The financial statements were prepared in conformity with generally accepted accounting principles
appropriate in the circumstances and, accordingly, include certain amounts based on our best judgments and estimates. Financial
information in this annual report on Form 10-K is consistent with that in the financial statements.
Management of the Company is responsible for establishing and maintaining a system of internal controls and procedures to provide
reasonable assurance regarding the reliability of financial reporting and the preparation of the consolidated financial statements. Our
internal control system is supported by a program of internal audits and appropriate reviews by management, written policies and
guidelines, careful selection and training of qualified personnel, and a written Code of Business Conduct adopted by our Company’s
Board of Directors, applicable to all officers and employees of our Company and subsidiaries. In addition, our Company’s Board of
Directors adopted a written Code of Business Conduct for Non-Employee Directors which reflects the same principles and values as
our Code of Business Conduct for officers and employees but focuses on matters of relevance to non-employee Directors.
Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements and, even when
determined to be effective, can only provide reasonable assurance with respect to financial statement preparation and presentation.
Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate
because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.
Management’s Report on Internal Control Over Financial Reporting
Management of the Company is responsible for establishing and maintaining adequate internal control over financial reporting as such
term is defined in Rule 13a-15(f) under the Securities Exchange Act of 1934 (“Exchange Act”). Management assessed the effectiveness
of the Company’s internal control over financial reporting as of December 31, 2014. In making this assessment, management used the
criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (2013 Framework) (“COSO”) in Internal
Control — Integrated Framework. Based on this assessment, management believes that the Company maintained effective internal
control over financial reporting as of December 31, 2014.
The Company’s independent auditors, Ernst & Young LLP, a registered public accounting firm, are appointed by the Audit Committee
of the Company’s Board of Directors, subject to ratification by our Company’s shareowners. Ernst & Young LLP has audited and
reported on the consolidated financial statements of The Coca-Cola Company and subsidiaries and the Company’s internal control
over financial reporting. The reports of the independent auditors are contained in this annual report.