●  MARSH & MCLENNAN COMPANIES, INC. · FY 2023 

Controls & Procedures

Corporate governance structures at Marsh & McLennan Companies maintained effective internal controls over financial reporting through the end of 2023. Both management and independent auditors concurred that there were no material weaknesses or significant deficiencies identified in these systems during the period under review. This assessment confirms the company's ability to provide reasonable assurance regarding the reliability of its financial reporting.

MRSH L1 Synthesis
●  SYMBOLOGY.ONLINE l1 SYNTHESIS 

Marsh & Mclennan Companies, Inc Controls & Procedures Synthesis

Internal Controls and Procedures Assessment Report: Marsh & McLennan Companies, Inc.

This report synthesizes key findings regarding Marsh & McLennan Companies, Inc.'s disclosure controls and internal controls over financial reporting (ICFR) as disclosed in the 10-K filing for the period ending December 31, 2023.

Management's Assessment of Controls

Disclosure Controls Effectiveness

The Company’s Chief Executive Officer and Chief Financial Officer concluded that the Company’s disclosure controls and procedures are effective as of the end of the reporting period.

Internal Control Over Financial Reporting (ICFR) Status
  • Conclusion: Management determined that the Company maintained effective internal control over financial reporting as of December 31, 2023. This conclusion was reached using the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).
  • Auditor Confirmation: Deloitte & Touche LLP, the independent registered public accounting firm, concurred with management's assessment, stating that the Company maintained, in all material respects, effective internal control over financial reporting as of December 31, 2023.

Identified Deficiencies and Limitations

Material Weaknesses or Significant Deficiencies

The provided documentation does not identify any material weaknesses or significant deficiencies in the Company's ICFR for the period under review.

Inherent Limitations (Noteworthy Limitation)

A key limitation noted by management is that internal control over financial reporting, due to its inherent limitations, may not prevent or detect all misstatements. Furthermore, projections of future effectiveness are subject to risks arising from changes in conditions or deterioration in compliance with established policies and procedures.

Changes and Remediation Efforts

Changes to Internal Controls

Noteworthy Finding: There were no changes identified in the Company's internal control over financial reporting during the quarter ended December 31, 2023, that materially affected or are reasonably likely to materially affect the controls.

Remediation Efforts

As no material weaknesses or significant deficiencies were identified, there is no mention of specific remediation efforts undertaken during this period.

Noteworthy Procedures and Strengths

Scope of Controls (Strength)

The Company's ICFR is designed to provide reasonable assurance regarding financial reporting reliability and includes policies covering:

  • Maintenance of records that accurately reflect transactions and asset dispositions.
  • Recording all necessary transactions in accordance with GAAP.
  • Proper authorization of receipts and expenditures by management and directors.
  • Prevention or timely detection of unauthorized acquisition, use, or disposition of assets.
New Controls Introduced

The document does not detail any new controls or procedures introduced during the reporting period; it focuses on the established scope of existing policies.