●  Taylor Morrison Home Corp · FY 2024 

Controls & Procedures

Stability in corporate governance was confirmed following the reporting period ending December 31, 2024. Both internal management assessments and external auditor attestation concluded that controls over financial reporting were effective, noting that there were no material weaknesses or significant deficiencies identified during the review.

TMHC L1 Synthesis
●  SYMBOLOGY.ONLINE l1 SYNTHESIS 

Taylor Morrison Home Corp Controls & Procedures Synthesis

Internal Controls and Procedures Assessment: Taylor Morrison Home Corp.

Management's Conclusions on Control Effectiveness

Management has concluded that both its disclosure controls and internal controls over financial reporting (ICFR) were effective as of December 31, 2024. This assessment was conducted by the principal executive officer, principal financial officer, and principal accounting officer.

Disclosure Controls and Procedures
  • Conclusion: Management determined that their disclosure controls and procedures were "effective in alerting them in a timely manner to material information required to be disclosed in our reports filed or submitted with the SEC."
  • Assessment: This indicates robust processes for identifying and escalating critical, reportable information.
Internal Control over Financial Reporting (ICFR)
  • Conclusion: Management concluded that "the Company's internal control over financial reporting was effective as of December 31, 2024."
  • External Validation: This conclusion is supported by the independent registered public accounting firm, Deloitte & Touche LLP, which issued an opinion stating that the Company "maintained, in all material respects, effective internal control over financial reporting as of December 31, 2024."

Identified Deficiencies and Changes

Material Weaknesses or Significant Deficiencies
  • Finding: The provided documentation does not identify any material weaknesses or significant deficiencies in the company's controls.
  • Assessment: This represents a key strength in the control environment for the reporting period.
Changes to Internal Controls
  • Observation (Noteworthy): Management explicitly stated that "There has been no change in our internal control over financial reporting during the quarter ended December 31, 2024 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting."
  • Assessment: The stability of the controls throughout the period suggests consistent operational procedures.
New Controls and Remediation Efforts
  • Observation: No noteworthy new controls or specific remediation efforts were introduced or detailed during this reporting period.

Balanced Assessment and Inherent Limitations

While management has concluded that its systems are effective, the filing includes standard disclaimers regarding inherent limitations in all internal control frameworks:

Strengths of the Control Environment
  • Effectiveness: Both disclosure controls and ICFR were deemed effective by both internal management assessment and external auditor attestation.
  • Compliance: The company's assessment was based on established criteria, specifically the Internal Control - Integrated Framework (2013) issued by COSO.
Weaknesses/Areas for Caution
  • Inherent Limitations: Management acknowledges that "there are inherent limitations in the effectiveness of any internal control." Furthermore, the controls can only provide "reasonable assurance" and may not prevent or detect all misstatements due to changes in conditions or deterioration of compliance.