Regions Bank 2009 Annual Report Download - page 124
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Item 7. Financial Statements and Supplementary Data
REPORT OF MANAGEMENT ON INTERNAL CONTROL OVER FINANCIAL REPORTING
We, as members of the Management of Regions Financial Corporation (the “Company”), are responsible for
establishing and maintaining effective internal control over financial reporting. Regions’ internal control system
was designed to provide reasonable assurance to the Company’s management and Board of Directors regarding
the preparation and fair presentation of the Company’s financial statements for external purposes in accordance
with U.S. generally accepted accounting principles. Internal control over financial reporting includes self-
monitoring mechanisms, and actions are taken to correct deficiencies as they are identified.
All internal controls systems, no matter how well designed, have inherent limitations and may not prevent or
detect misstatements in the Company’s financial statements, including the possibility of circumvention or
overriding of controls. Therefore, even those systems determined to be effective can provide only 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.
Regions’ management assessed the effectiveness of the Company’s internal control over financial reporting
as of December 31, 2009. In making this assessment, we used the criteria set forth by the Committee of
Sponsoring Organizations of the Treadway Commission (COSO) in its Internal Control—Integrated Framework.
Based on our assessment, we believe and assert that, as of December 31, 2009, the Company’s internal control
over financial reporting is effective based on those criteria.
Regions’ independent registered public accounting firm has issued an audit report on the effectiveness of the
Company’s internal control over financial reporting. This report appears on the following page.
REGIONS FINANCIAL CORPORATION
by /s/ C. D
OWD
R
ITTER
C. Dowd Ritter
Chief Executive Officer
by /s/ I
RENE
M. E
STEVES
Irene M. Esteves
Chief Financial Officer
110