Books
and Record Keeping
A company’s credibility is judged
in many ways – one very important way is the integrity
of its books, records, accounting practices and public filings.
In addition to our own commitment to accurately report financial
performance, Schering-Plough is required by securities laws
to report in accordance with generally accepted accounting
principles. In many countries, Schering-Plough is also required
to file pricing information with regulatory authorities and,
in the United States, to certify to the accuracy of such filing.
The CEO, CFO and the Controller are specifically responsible
for full, fair, accurate, timely and understandable disclosure
in documents filed with or submitted to the U.S. Securities
and Exchange Commission. Every employee of Schering-Plough
must help ensure that reporting of such business information,
computerized, paper or otherwise, is accurate, complete and
timely.
This means:
- Accurately record costs, sales, shipments,
time sheets, vouchers, bills, payroll and benefits records,
regulatory data, and other essential company information.
- Follow all applicable laws, regulations,
external accounting requirements and company procedures
for reporting and disclosing financial information, including
those promulgated by the U.S. Securities and Exchange Commission,
the Financial Accounting Standards Board and the New York
Stock Exchange.
- Ensure that all financial and non-financial
arrangements with customers are recorded so that Schering-Plough
can abide by all government contracting and price reporting
requirements, including those under U.S. healthcare programs.
- Never deliberately make a false or
misleading entry in a report or record.
- Do not alter or destroy company records
except as authorized by established policies and procedures.
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