Common use of Controllership Clause in Contracts

Controllership. Controllership comprises three vital elements: (1) compliance with applicable laws, regulations and company policies, (2) rigorous business processes to ensure that management decisions are based on sound economic analysis (including a prudent consideration of risks), and that GE’s physical, financial and intellectual property assets are safeguarded and optimally employed; and (3) integrity in communications to ensure timely and accurate reporting of actual and forecasted financial information. Through the unwavering commitment of controllership by GE employees and other individuals working on behalf of GE, we create an environment in which we can all take pride. • Follow all company accounting, reporting and control procedures, as well as all generally accepted accounting principles, standards, laws and regulations for accounting and financial reporting of transactions, estimates and forecasts. • Maintain complete, accurate and timely records and accounts to reflect all business transactions, including travel and living expense reports, invoices and time sheets. • Protect the security of company assets and the confidentiality of company information. Do not release GE records outside the company unless specifically authorized by GE management. • Allow company auditors access to records you maintain while on your GE assignment.