3M 2014 Annual Report Download - page 52

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46
Management’s Responsibility for Financial Reporting
Management is responsible for the integrity and objectivity of the financial information included in this report. The financial
statements have been prepared in accordance with accounting principles generally accepted in the United States of
America. Where necessary, the financial statements reflect estimates based on management’s judgment.
Management has established and maintains a system of internal control over financial reporting for the Company and its
subsidiaries. This system and its established accounting procedures and related controls are designed to provide
reasonable assurance that assets are safeguarded, that the books and records properly reflect all transactions, that
policies and procedures are implemented by qualified personnel, and that published financial statements are properly
prepared and fairly presented. The Company’s system of internal control over financial reporting is supported by widely
communicated written policies, including business conduct policies, which are designed to require all employees to
maintain high ethical standards in the conduct of Company affairs. Internal auditors continually review the accounting and
control system.
3M Company
Management’s Report on Internal Control Over Financial Reporting
Management is responsible for establishing and maintaining an adequate system of internal control over financial
reporting. Management conducted an assessment of the Company’s internal control over financial reporting based on the
framework established by the Committee of Sponsoring Organizations of the Treadway Commission in Internal Control —
Integrated Framework (2013). Based on the assessment, management concluded that, as of December 31, 2014, the
Company’s internal control over financial reporting is effective.
The Company’s internal control over financial reporting as of December 31, 2014 has been audited by
PricewaterhouseCoopers LLP, an independent registered public accounting firm, as stated in their report which is
included herein, which expresses an unqualified opinion on the effectiveness of the Company’s internal control over
financial reporting as of December 31, 2014.
3M Company