Preventing Corruption and Bribery

Weyerhaeuser is committed to obeying the law in all countries where we do business. We have adopted policies and standards for ethical conduct to ensure that we comply with the U.S. Foreign Corrupt Practices Act and similar anti-corruption laws in each country where we do business.

In 2007, we updated our long-standing FCPA policy and created training and tools to provide better guidance to employees. In addition to our employees, anyone who does business on Weyerhaeuser's behalf is expected to understand and comply with these policies and standards in the code of ethics. Employees who fail to comply with these policies and standards are subject to disciplinary action, up to termination of employment. Our contracts and purchasing policies require agents, contractors, suppliers, service providers and joint-venture partners to comply with these policies and standards as well as all statutes and regulations, including those regarding corruption and bribery.

For information about our issue resolution process, see Ethics in this section.

To help ensure that shareholders receive accurate financial information, the Sarbanes-Oxley Act of 2002 requires public companies to assess their internal control structures and procedures for financial reporting and to disclose any material weakness in these controls. Our assessment is audited by an independent public accounting firm. The first report was due for the 2004 fiscal year. We spent 20 months and 22,000 direct employee hours to establish a process and conduct the initial review, which concluded our internal controls were effective and identified no material weaknesses. Our reports for fiscal 2005, 2006 and 2007 also concluded that our internal controls were effective and identified no material weaknesses.