●  GENERAL ELECTRIC CO · FY 2024 

Controls & Procedures

General Electric Co. has affirmed the effectiveness of its internal controls over financial reporting and disclosure procedures as of December 31, 2024. The company reported that its governance structures remained robust during the period, with no material weaknesses or significant deficiencies identified in its financial oversight systems. This conclusion is backed by an independent Audit Committee and external assurance from Deloitte and Touche LLP.

GE L1 Synthesis
●  SYMBOLOGY.ONLINE l1 SYNTHESIS 

General Electric Co Controls & Procedures Synthesis

Internal Controls and Disclosure Procedures Summary Report

Overall Assessment

Based on the provided disclosure, General Electric Co. maintains a robust control environment and has concluded that its internal controls over financial reporting (ICFR) and disclosure controls and procedures were effective as of December 31, 2024. The company highlights strong governance structures and the involvement of independent oversight bodies. However, the filing does not detail specific control processes or identify any weaknesses during this period.

Management's Conclusions on Control Effectiveness

Disclosure Controls and Procedures

Management concluded that its disclosure controls and procedures were effective as of December 31, 2024. This evaluation was conducted under the direction of the CEO and CFO.

Internal Control Over Financial Reporting (ICFR)

Management concluded that its internal control over financial reporting was effective as of December 31, 2024. This conclusion was reached following an evaluation based on the Internal Control - Integrated Framework (2013).

Strengths and Procedural Controls

The company demonstrates several structural strengths designed to ensure reliable financial reporting:

  • Oversight and Governance: The Board of Directors, specifically the Audit Committee (which consists entirely of independent directors), meets periodically with management, internal auditors, and the external auditor to discuss financial reporting and internal controls.
  • External Assurance: The company engaged Deloitte and Touche LLP, an independent registered public accounting firm, to audit the consolidated financial statements and render an opinion on ICFR in accordance with PCAOB standards.
  • Control Design: The company states it designs and maintains accounting and internal control systems to provide reasonable assurance that assets are safeguarded against unauthorized loss, supported by policies, organizational structure (division of responsibilities), and personnel training.

Identified Issues, Changes, and Remediation

Material Weaknesses or Significant Deficiencies

The provided text does not disclose any material weaknesses or significant deficiencies in the company's internal controls over financial reporting.

Changes to Internal Controls

Noteworthy Finding: The company explicitly stated that there were no changes in its internal control over financial reporting during the quarter ended December 31, 2024, that were reasonably likely to materially affect its ICFR.

Remediation Efforts

Since no material weaknesses or significant deficiencies were identified, no specific remediation efforts are detailed in this excerpt.

New Controls

No noteworthy new controls or procedures introduced during the reporting period were mentioned in this section of the filing.