●  GENERAL ELECTRIC CO · FY 2023 

Controls & Procedures

Corporate governance structures at General Electric Co. remain robust, with management concluding that both internal controls over financial reporting and disclosure procedures were effective as of December 31, 2023. Critically, the company reported no material weaknesses or significant deficiencies in its control environment during the period, signaling operational stability in its compliance framework.

GE L1 Synthesis
●  SYMBOLOGY.ONLINE l1 SYNTHESIS 

General Electric Co Controls & Procedures Synthesis

Internal Controls and Procedures Assessment Report (General Electric Co., 2023)

Overall Assessment

The company maintains a strong framework for internal controls, supported by robust governance structures, including an Audit Committee composed entirely of independent directors. Management has concluded that both its disclosure controls and ICFR were effective as of December 31, 2023. Critically, the filing indicates stability in the control environment, reporting no material weaknesses or significant deficiencies during the period.

Key Findings on Controls Effectiveness

Disclosure Controls
  • Conclusion: Management concluded that the company's disclosure controls and procedures were effective as of December 31, 2023.
  • Evidence: "Under the direction of our Chief Executive Officer and Chief Financial Officer, we evaluated our disclosure controls and procedures and internal control over financial reporting and concluded that our disclosure controls and procedures were effective as of December 31, 2023."
Internal Control Over Financial Reporting (ICFR)
  • Conclusion: Management determined that ICFR was effective as of December 31, 2023. This evaluation utilized the COSO framework.
  • Evidence: "Based on this evaluation, our management has concluded that our internal control over financial reporting was effective as of December 31, 2023."

Changes and Deficiencies

Material Weaknesses or Significant Deficiencies
  • Observation: No material weaknesses or significant deficiencies were identified in the provided disclosure. The controls are reported to be operating effectively.
Changes to Internal Controls During the Reporting Period (Noteworthy)
  • Observation: There were no noteworthy changes that materially impacted the control environment during the reporting period.
  • Evidence: "There have been no changes in the Company's internal control over financial reporting during the quarter ended December 31, 2023, that have materially affected, or are reasonably likely to materially affect, its internal control over financial reporting."
Remediation Efforts and New Controls
  • Observation: Since management reported no material changes or deficiencies, there were no specific remediation efforts detailed for the period. No new controls or procedures were highlighted as being introduced during this time.