text: Management is responsible for the preparation and integrity of the consolidated financial statements and other financial information presented 
  
  in this report. That responsibility is accomplished using internal controls designed to provide reasonable assurance as to the integrity and accuracy 
  
  of the Company’s financial records and to adequately safeguard, verify, and maintain accountability of assets. Such controls are based on estab- 
  
  lished written policies and procedures, are implemented by trained personnel with an appropriate segregation of duties, and are monitored 
  
  through a comprehensive internal audit program. These policies and procedures prescribe that the Company and all its members are to maintain 
  
  the highest ethical and business standards. 
  
  PricewaterhouseCoopers, LLP, independent accountants, is retained to audit HON INDUSTRIES’ financial statements. Their accompa- 
  
  nying report is based on audits conducted in accordance with auditing standards, generally accepted in the United States. 
  
  The Board of Directors exercises its responsibility for these financial statements through its Audit Committee, which consists entirely of 
  
  independent board members. The Audit Committee meets periodically with the independent accountants and with the Company’s internal audi- 
  
  tors, both privately and with management present, to review accounting, auditing, internal controls, and financial reporting matters. 