Duke Energy 2012 Annual Report Download - page 97

77
PART II
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Board of Directors of
Duke Energy Carolinas, LLC
Charlotte, North Carolina
We have audited the accompanying consolidated balance sheets of Duke Energy Carolinas, LLC and subsidiaries (the “Company”) as of December 31, 2012 and 2011, and
the related consolidated statements of operations and comprehensive income, member’s equity, and cash fl ows for each of the three years in the period ended
December 31, 2012. These fi nancial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on these fi nancial
statements based on our audits.
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the fi nancial statements are free of material misstatement. The Company is not required to have,
nor were we engaged to perform, an audit of its internal control over fi nancial reporting. Our audits included consideration of internal control over fi nancial reporting
as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the
Company’s internal control over fi nancial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting
the amounts and disclosures in the fi nancial statements, assessing the accounting principles used and signifi cant estimates made by management,
as well as evaluating the overall fi nancial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the consolidated fi nancial statements referred to above present fairly, in all material respects, the fi nancial position of Duke Energy Carolinas, LLC and
subsidiaries at December 31, 2012 and 2011, and the results of their operations and their cash fl ows for each of the three years in the period ended December 31, 2012,
in conformity with accounting principles generally accepted in the United States of America.
/s/ Deloitte & Touche LLP
Charlotte, North Carolina
February 28, 2013