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Unformatted text preview: 220.0 million, resulting in an after-tax gain on disposal of $33.8 million.
The net earnings, including the gain on disposal, and cash flows of the discontinued operations were
presented separately in the consolidated statements of operations and cash flows, and comparative periods
were recasted accordingly. 8. DISCLOSURE CONTROLS AND PROCEDURES AND INTERNAL CONTROLS OVER
Pursuant to regulations adopted by the U.S. Securities and Exchange Commission, under the Sarbanes-Oxley
Act of 2002 and those of the Canadian Securities Administrators, Kinross' management evaluates the
effectiveness of the design and operation of the Company's disclosure controls and procedures, and internal
controls over financial reporting. This evaluation is done under the supervision of, and with the participation MDA42 KINROSS GOLD 2012 ANNUAL REPORT of the Chief Executive Officer and the Chief Financial Officer.
As of the end of the period covered by this MD&A and the accompanying audited consolidated financial
statements, Kinross’ management evaluated the effectiveness of its disclosure controls and procedures and
internal control over financial reporting. Based on that evaluation, the Chief Executive Officer and the Chief
Financial Officer have concluded that Kinross’ disclosure controls and procedures, and internal controls over
financial reporting, provide reasonable assurance that they were effective as at December 31, 2012. During
2012, Paracatu and the regional offices in Belo Horizonte, Brazil, and Las Palmas, Spain, converted to a new
version of their ERP system, and Chirano converted to a new ERP system. The conversions in the ERP system
have not resulted in any significant changes in internal controls during the year ended December 31, 2012.
Management employed appropriate procedures to ensure internal controls were in place during and after
the conversions. Limitations of Controls and Procedures
Kinross’ management, including the Chief Executive Offic er and the Chief Financial Officer, believes that any
disclosure controls and procedures and internal controls over financial reporting, no matter how well
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This document was uploaded on 03/30/2014.
- Spring '14