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Rules of Business Practice for the 2005–2010 USP Board of Trustees

15. Certified Financial Reports

15.01 Submission of Financial Statements

The EVP–CEO shall submit to the Board annual and quarterly financial statements.

15.02 Certification

The EVP–CEO, the Chief Financial and Administrative Officer, and others, as determined by the Board, shall certify to the Board for each annual financial report to the Board that:

  1. The signing individual has reviewed the report.
  2. Based on the signing individual's knowledge, the report does not contain any untrue statement of a material fact or omit to state a material fact.
  3. Based on the signing individual's knowledge, the financial statements, and other financial information included in the report, fairly present in all material respects the financial condition and results of operations of USP as of, and for, the periods presented in the report.
  4. The signing individual:
    1. Is responsible for establishing and maintaining internal controls;
    2. Has evaluated the effectiveness of the internal controls of the USP as of a date within 90 days prior to the report; and
    3. Has presented in the report his or her conclusions about the effectiveness of these internal controls based on his or her evaluation as of that date.
  5. The signing individual has disclosed to USP's auditors and the Audit Committee:
    1. All significant deficiencies in the design or operation of internal controls, which could adversely affect the USP's ability to record, process, summarize, and report financial data, and have identified for the USP's auditor any material weaknesses in internal controls; and
    2. Any fraud, whether or not material, that involves management or other employees who have a significant role in USP's internal controls.
  6. The signing individual has indicated in the report whether or not there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of their evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.