Proctor and Gamble 2015 Annual Report Download - page 45

43 The Procter & Gamble Company
MANAGEMENTS REPORT ON INTERNAL
CONTROL OVER FINANCIAL REPORTING
Management is responsible for establishing and maintaining
adequate internal control over financial reporting of The
Procter & Gamble Company (as defined in Rule 13a-15(f)
under the Securities Exchange Act of 1934, as amended). Our
internal control over financial reporting is designed to provide
reasonable assurance regarding the reliability of financial
reporting and the preparation of financial statements for
external purposes in accordance with generally accepted
accounting principles in the United States of America.
Strong internal controls is an objective that is reinforced
through our orldwide siess odct aal, which sets
forth our commitment to conduct business with integrity, and
within both the letter and the spirit of the law. The Company's
internal control over financial reporting includes a Control Self-
Assessment Program that is conducted annually for critical
financial reporting areas of the Company and is audited by the
internal audit function. Management takes the appropriate
action to correct any identified control deficiencies. ecause
of its inherent limitations, any system of internal control over
financial reporting, no matter how well designed, may not
prevent or detect misstatements due to the possibility that a
control can be circumvented or overridden or that
misstatements due to error or fraud may occur that are not
detected. Also, because of changes in conditions, internal
control effectiveness may vary over time.
Management assessed the effectiveness of the Company's
internal control over financial reporting as of June 30, 2015,
using criteria established in teral otrol  terated
Framewor 2013 issued by the Committee of Sponsoring
Organizations of the Treadway Commission (COSO) and
concluded that the Company maintained effective internal
control over financial reporting as of June 30, 2015, based on
these criteria.
Deloitte & Touche LLP, an independent registered public
accounting firm, has audited the effectiveness of the Company's
internal control over financial reporting as of June 30, 2015, as
stated in their report which is included herein.
s  afley
A. G. Lafley
Chairman of the oard, President and Chief Executive
Officer
s o  oeller
Jon R. Moeller
Chief Financial Officer
August 7, 2015
REPORT OF INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM
To the oard of Directors and Stockholders of
The Procter & Gamble Company
e have audited the accompanying Consolidated alance
Sheets of The Procter & Gamble Company and subsidiaries
(the Company) as of June 30, 2015 and 2014, and the related
Consolidated Statements of Earnings, Comprehensive Income,
Shareholders' Equity, and Cash Flows for each of the three years
in the period ended June 30, 2015. These financial statements
are the responsibility of the Company's management. Our
responsibility is to express an opinion on these financial
statements based on our audits.
e conducted our audits in accordance with the standards of
the Public Company Accounting Oversight oard (United
States). Those standards require that we plan and perform the
audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes
examining, on a test basis, evidence supporting the amounts
and disclosures in the financial statements. An audit also
includes assessing the accounting principles used and
significant estimates made by management, as well as
evaluating the overall financial statement presentation. e
believe that our audits provide a reasonable basis for our
opinion.
In our opinion, such Consolidated Financial Statements present
fairly, in all material respects, the financial position of The
Procter & Gamble Company and subsidiaries at June 30, 2015
and 2014, and the results of their operations and their cash flows
for each of the three years in the period ended June 30, 2015,
in conformity with accounting principles generally accepted in
the United States of America.
e have also audited, in accordance with the standards of the
Public Company Accounting Oversight oard (United States),
the Company's internal control over financial reporting as of
June 30, 2015, based on the criteria established in teral
otrol  terated Framewor 2013 issued by the
Committee of Sponsoring Organizations of the Treadway
Commission and our report dated August 7, 2015 expressed an
unqualified opinion on the Company's internal control over
financial reporting.
s eloitte  oche 
Cincinnati, Ohio
August 7, 2015