54 UNITED TECHNOLOGIES CORPORATION Management’s Report on Internal Control over Financial Reporting The management of UTC is responsible for establishing and main- taining adequate internal control over financial reporting. Internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external reporting purposes in accordance with accounting principles generally accepted in the United States of America. Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Management has assessed the effective- ness of UTC’s internal control over financial reporting as of December 31, 2012. In making its assessment, management has utilized the criteria set forth by the Committee of Sponsoring Orga- nizations of the Treadway Commission in its Internal Control— Integrated Framework , released in 1992 . Management concluded that based on its assessment, UTC’s internal control over financial reporting was effective as of December 31, 2012. The effectiveness of UTC’s internal control over financial reporting, as of December 31, 2012, has been audited by PricewaterhouseCoopers LLP, an independent registered public accounting firm, as stated in their report which is included herein. Peter F. Longo Vice President, Controller Gregory J. Hayes Senior Vice President and Chief Financial Officer Louis R. Chênevert Chairman & Chief Executive Officer