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TOYOTA ANNUAL REPORT 2010 100
Special Feature
Top Messages
Special Feature
Consolidated
Performance Highlights
Financial Section
Investor Information
Corporate Information
Business Overview
Financial Section
Management’s Annual Report on Internal
Control over Financial Reporting
Toyota’s management is responsible for establishing and maintaining effective internal control
over financial reporting. Internal control over financial reporting is a process designed to provide
reasonable assurance regarding the reliability of financial reporting and the preparation of
financial statements for external purposes in accordance with U.S. GAAP. Toyota’s internal control
over financial reporting includes those policies and procedures that:
１）pertain to the maintenance of records that in reasonable detail, accurately and fairly
reect the transactions and dispositions of Toyota’s assets;
２）provide reasonable assurance that transactions are recorded as necessary to permit
preparation of nancial statements in accordance with U.S. GAAP, and that Toyota’s
receipts and expenditures are being made only in accordance with authorizations of
Toyota’s management and directors; and
３）provide reasonable assurance regarding prevention or timely detection of
unauthorized acquisition, use, or disposition of Toyota’s assets that could have a
material effect on the financial statements.
Because of its inherent limitations, internal control over financial reporting may not prevent or
detect misstatements. 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.
Toyota’s management conducted an evaluation of the effectiveness of internal control over
financial reporting based on the framework in “Internal Control — Integrated Framework” issued
by the Committee of Sponsoring Organizations of the Treadway Commission.
Based on this evaluation, management concluded that Toyota’s internal control over financial
reporting was effective as of March 31, 2010.
PricewaterhouseCoopers Aarata, an independent registered public accounting firm that audited the
consolidated nancial statements included in this report, has also audited the e󰮏ectiveness of Toyota’s
internal control over nancial reporting as of March 31, 2010, as stated in its report included herein.