Toyota 2012 Annual Report Download - page 124

Download and view the complete annual report

Please find page 124 of the 2012 Toyota annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 127

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127

Management and
Corporate Information
TOYOTA ANNUAL REPORT 2012
Investor InformationToyota Global Vision Changes for Making
Ever-Better Cars President
ʼ
s Message Medium- to Long-Term
Growth Initiatives Special Feature Business and
Performance Review Financial Section
Management's Annual Report on Internal Control over Financial Reporting
Toyota
ʼ
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
ʼ
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 reflect the transactions and
dispositions of Toyota
ʼ
s assets;
2
)
provide reasonable assurance that
transactions are recorded as necessary
to permit preparation of financial
statements in accordance with U.S.
GAAP, and that Toyota
ʼ
s receipts and
expenditures are being made only
in accordance with authorizations of
Toyota
ʼ
s management and directors; and
3
)
provide reasonable assurance regarding
prevention or timely detection of
unauthorized acquisition, use, or
disposition of Toyota
ʼ
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
ʼ
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
ʼ
s internal control over
financial reporting was effective as of March 31,
2012.
PricewaterhouseCoopers Aarata, an
independent registered public accounting
firm that audited the consolidated financial
statements included in this report, has also
audited the effectiveness of Toyota
ʼ
s internal
control over financial reporting as of March 31,
2012, as stated in its report included herein.
Search NextPrev page 124
Contents
0808