The following are selected portions of the report of management from a published annual report. Report of Management Managements Report on Internal Control over Financial Reporting The Companys management is responsible for establishing and maintaining adequate internal control over financial reporting. The Companys internal control over financial reporting is a process designed under the supervision of its President and Chief Executive Officer and Chief Financial Officer to provide reasonable assurance regarding the reliability of financial reporting and the preparation of the Companys financial statements for external reporting in accordance with accounting principles generally accepted in the United States of America. Management evaluates the effectiveness of the Companys internal control over financial reporting using the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Comission (COSO) in Internal Control-Integrated Framework. Management, under the supervision and with participation of the Companys president and Chief Executive Officer and Chief Financial Officer assessed the effectiveness of the Coompanys internal control over financial reporting as of December 31, 2007 and concluded it is effective. Managements Responsibility for Consolidated Financial Statements The management of Colgate-Palmolive Company is also responsible for the preparation and content of the accompanying consolidated financial statements as well as all other related information contained in this annual report. These financial statements have been prepared in conformity with accounting principles generally accepted in the United States, and necessarily include amounts which are based on managements best estimates and judgments. Required: a. What are the purposes of the two parts of the report of management? b. What is the auditors responsibility related to the report of management