General Motors 2010 Annual Report Download - page 287

GENERAL MOTORS COMPANY AND SUBSIDIARIES
Other than as previously discussed, there have not been any other changes in our internal control over financial reporting in the
three months ended December 31, 2010, which have materially affected, or are reasonably likely to materially affect, our internal
control over financial reporting.
/s/ DANIEL F. AKERSON /s/ CHRISTOPHER P. LIDDELL
Daniel F. Akerson
Chairman and Chief Executive Officer
Christopher P. Liddell
Vice Chairman and Chief Financial Officer
March 1, 2011 March 1, 2011
Limitations on the Effectiveness of Controls
Our management, including our CEO and CFO, does not expect that our disclosure controls and procedures or internal control over
financial reporting will prevent or detect all errors and all fraud. A control system cannot provide absolute assurance due to its
inherent limitations; it is a process that involves human diligence and compliance and is subject to lapses in judgment and breakdowns
resulting from human failures. A control system also can be circumvented by collusion or improper management override. Further,
the design of a control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered
relative to their costs. Because of such limitations, disclosure controls and procedures and internal control over financial reporting
cannot prevent or detect all misstatements, whether unintentional errors or fraud. However, these inherent limitations are known
features of the financial reporting process, therefore, it is possible to design into the process safeguards to reduce, though not
eliminate, this risk.
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General Motors Company 2010 Annual Report 285