●  MARSH & MCLENNAN COMPANIES, INC. · FY 2022 

Controls & Procedures

A comprehensive review of corporate financial governance reveals a robust operational environment for Marsh & McLennan Companies, Inc., as of December 31, 2022. Both management and external auditors affirmed that internal controls over financial reporting were effective in all material respects, identifying no significant deficiencies or weaknesses during the period. This stability confirms the efficacy of frameworks designed to ensure accurate record-keeping and prevent asset misuse within the organization.

MRSH L1 Synthesis
●  SYMBOLOGY.ONLINE l1 SYNTHESIS 

Marsh & Mclennan Companies, Inc Controls & Procedures Synthesis

Internal Controls and Procedures Assessment Report

Management's Conclusions on Control Effectiveness

The company demonstrates a high degree of confidence in its control environment, with both management and external auditors affirming the effectiveness of the internal controls over financial reporting (ICFR) as of December 31, 2022.

Disclosure Controls
  • Conclusion: The Chief Executive Officer and Chief Financial Officer concluded that the Company's disclosure controls and procedures are effective.
  • Evidence: "the Company's chief executive officer and chief financial officer have concluded that the Company's disclosure controls and procedures... are effective."
Internal Control over Financial Reporting (ICFR)
  • Management Determination: Management determined that the Company maintained effective internal control over financial reporting as of December 31, 2022, utilizing the COSO framework.
  • Auditor Opinion: Deloitte & Touche LLP issued an audit report stating that the Company "maintained, in all material respects, effective internal control over financial reporting as of December 31, 2022."

Identified Weaknesses and Deficiencies

The provided documentation indicates a strong operational environment regarding controls.

Material Weaknesses or Significant Deficiencies
  • Assessment: No material weaknesses or significant deficiencies were identified by management or the independent registered public accounting firm during the reporting period. The company's ICFR was deemed effective in all material respects.

Changes and Remediation Efforts

The stability of the control environment is a noteworthy finding for this reporting period, as no changes requiring disclosure were reported.

Changes to Internal Controls
  • Assessment: There were no changes identified that materially affected or were reasonably likely to materially affect the Company's internal controls over financial reporting during the quarter ended December 31, 2021.
  • Evidence: "There were no changes in the Company's internal control over financial reporting identified... that occurred during the quarter ended December 31, 2021 that have materially affected, or are reasonably likely to materially affect, the Company's internal control over financial reporting."
Remediation Efforts
  • Assessment: Since no weaknesses were reported, there is no evidence of remediation efforts required for this period.

Noteworthy Controls and Procedures

The company maintains a comprehensive framework designed to ensure accuracy and prevent asset misuse.

Scope of Internal Control
  • Key Components: The ICFR includes policies ensuring the accurate maintenance of records reflecting transactions, proper authorization of receipts and expenditures by management/directors, and prevention or timely detection of unauthorized acquisition, use, or disposition of assets that could materially affect financial statements.
  • Note on Limitations (Balanced View): Management explicitly acknowledges the inherent limitations of ICFR, noting it "may not prevent or detect misstatements" and is subject to risks from changes in conditions or deterioration of compliance.