Duke Energy 2011 Annual Report Download - page 247

PART II
ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
FINANCIAL DISCLOSURE.
None.
ITEM 9A. CONTROLS AND PROCEDURES – DUKE ENERGY, DUKE ENERGY CAROLINAS, DUKE
ENERGY OHIO AND DUKE ENERGY INDIANA.
Disclosure Controls and Procedures
Disclosure controls and procedures are controls and other
procedures that are designed to ensure that information required to be
disclosed by the Duke Energy Registrants in the reports they file or
submit under the Securities Exchange Act of 1934 (Exchange Act) is
recorded, processed, summarized, and reported, within the time
periods specified by the Securities and Exchange Commission’s (SEC)
rules and forms.
Disclosure controls and procedures include, without limitation,
controls and procedures designed to provide reasonable assurance
that information required to be disclosed by the Duke Energy
Registrants in the reports they file or submit under the Exchange Act
is accumulated and communicated to management, including the
Chief Executive Officer and Chief Financial Officer, as appropriate, to
allow timely decisions regarding required disclosure.
Under the supervision and with the participation of
management, including the Chief Executive Officer and Chief
Financial Officer, the Duke Energy Registrants have evaluated the
effectiveness of their disclosure controls and procedures (as such
term is defined in Rule 13a-15(e) and 15d-15(e) under the
Exchange Act) as of December 31, 2011, and, based upon this
evaluation, the Chief Executive Officer and Chief Financial Officer
have concluded that these controls and procedures are effective in
providing reasonable assurance of compliance.
Changes in Internal Control over Financial Reporting
Under the supervision and with the participation of
management, including the Chief Executive Officer and Chief
Financial Officer, the Duke Energy Registrants have evaluated
changes in internal control over financial reporting (as such term is
defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act)
that occurred during the fiscal quarter ended December 31, 2011
and have concluded no change has materially affected, or is
reasonably likely to materially affect, internal control over financial
reporting.
Management’s Annual Report On Internal Control Over Financial
Reporting
The Duke Energy Registrants’ management is responsible for
establishing and maintaining an adequate system of internal control
over financial reporting, as such term is defined in Exchange Act
Rules 13a-15(f) and 15d-15(f). The Duke Energy Registrants’
internal control system was designed to provide reasonable assurance
regarding the reliability of financial reporting and the preparation of
financial statements for external purposes, in accordance with U.S.
generally accepted accounting principles. Because of inherent
limitations, internal control over financial reporting may not prevent or
detect misstatements. Also projections of any evaluation of
effectiveness to future periods are subject to the risk that controls may
become inadequate because of changes in conditions, or that the
degree of compliance with policies and procedures may deteriorate.
The Duke Energy Registrants’ management, including their
Chief Executive Officer and Chief Financial Officer, has conducted an
evaluation of the effectiveness of their internal control over financial
reporting as of December 31, 2011 based on the framework in
Internal Control — Integrated Framework issued by the Committee of
Sponsoring Organizations of the Treadway Commission. Based on
that evaluation, management concluded that its internal controls over
financial reporting were effective as of December 31, 2011.
Deloitte & Touche LLP, Duke Energy’s independent registered
public accounting firm, has issued an attestation report on the
effectiveness of Duke Energy’s internal control over financial reporting.
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