●  MARSH & MCLENNAN COMPANIES, INC. · FY 2024 

Controls & Procedures

Financial reporting controls at Marsh & McLennan Companies were confirmed to be effective in all material respects for the period ending December 31, 2024. Both internal management and external auditors concurred that the company maintains a strong control environment, identifying no material weaknesses or significant deficiencies throughout the year. This assessment also highlighted high stability, noting no changes to the ICFR during the reporting period.

MRSH L1 Synthesis
●  SYMBOLOGY.ONLINE l1 SYNTHESIS 

Marsh & Mclennan Companies, Inc Controls & Procedures Synthesis

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

Overall Control Environment Summary

Based on the disclosures provided in the 10-K filing for the period ending December 31, 2024, Marsh & McLennan Companies, Inc. maintains a strong control environment. Both management's internal assessment and the independent auditor’s opinion confirm that the Company has effective controls over financial reporting (ICFR) and disclosure controls. The report indicates stability with no material changes or identified deficiencies during the reporting period.

Management Conclusions on Effectiveness

Disclosure Controls and Procedures

The Chief Executive Officer and Chief Financial Officer have concluded that the Company's disclosure controls and procedures are effective as of the end of the reporting period, ensuring timely and accurate information flow to management.

Internal Control Over Financial Reporting (ICFR)
  • Management Assessment: Management evaluated ICFR using the COSO 2013 framework and determined that the Company maintained effective internal control over financial reporting as of December 31, 2024.
  • Auditor Opinion: Deloitte & Touche LLP, the Independent Registered Public Accounting Firm, concurred with this finding, stating in their audit report that the Company maintained, in all material respects, effective ICFR as of December 31, 2024.

Identified Weaknesses and Deficiencies

The filing does not identify any material weaknesses or significant deficiencies in the Company's internal controls over financial reporting. The assessment confirms that the control system is functioning adequately to provide reasonable assurance regarding the reliability of financial statements.

Changes and Noteworthy Procedural Elements

Stability of Controls (Strength)
  • No Material Changes: There were no changes identified in the Company’s ICFR during the quarter ended December 31, 2024, that materially affected or are reasonably likely to materially affect the controls. This indicates a high degree of control stability throughout the period.
Noteworthy Procedural Exclusion
  • Acquisition Exclusion: Management and the auditors noted a specific procedural exclusion from their assessment: the internal control over financial reporting at McGriff Insurance Services, which was acquired on November 15, 2024. This exclusion was justified because McGriff accounted for only approximately 2% of total assets and 0.6% of consolidated revenue as of December 31, 2024.

Assessment Strengths and Limitations

Identified Strengths
  • Effectiveness: Both internal management and external auditors confirmed the effectiveness of controls in all material respects.
  • Scope: The ICFR is designed to cover comprehensive areas, including accurate record maintenance, proper authorization of receipts/expenditures, and prevention or timely detection of unauthorized asset disposition.
Inherent Limitations (Weakness Acknowledgment)

The Company explicitly acknowledges the inherent limitations of its internal control system:

  • ICFR may not prevent or detect all misstatements due to its nature.
  • Future effectiveness is subject to risk, as controls could become inadequate due to changes in conditions or deterioration in compliance.