Exelon 2015 Annual Report Download - page 442

Table of Contents
ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE
Exelon, Generation, ComEd, PECO and BGE
None.
ITEM 9A. CONTROLS AND PROCEDURES
Exelon, Generation, ComEd, PECO and BGE—Disclosure Controls and Procedures
During the fourth quarter of 2015, each registrant’s management, including its principal executive officer and principal financial officer,
evaluated the effectiveness of that registrant’s disclosure controls and procedures related to the recording, processing, summarizing and reporting
of information in that registrant’s periodic reports that it files with the SEC. These disclosure controls and procedures have been designed by each
registrant to ensure that (a) information relating to that registrant, including its consolidated subsidiaries, that is required to be included in filings
under the Securities Exchange Act of 1934, is accumulated and made known to that registrant’s management, including its principal executive
officer and principal financial officer, by other employees of that registrant and its subsidiaries as appropriate to allow timely decisions regarding
required disclosure, and (b) this information is recorded, processed, summarized, evaluated and reported, as applicable, within the time periods
specified in the SEC’s rules and forms. Due to the inherent limitations of control systems, not all misstatements may be detected. These inherent
limitations include the realities that judgments in decision-making can be faulty and that breakdowns can occur because of simple error or mistake.
Additionally, controls could be circumvented by the individual acts of some persons or by collusion of two or more people.
Accordingly, as of December 31, 2015, the principal executive officer and principal financial officer of each registrant concluded that such
registrant’s disclosure controls and procedures were effective to accomplish their objectives.
Exelon, Generation, ComEd, PECO and BGE—Changes in Internal Control Over Financial Reporting
Each registrant continually strives to improve its disclosure controls and procedures to enhance the quality of its financial reporting and to
maintain dynamic systems that change as conditions warrant. However, there have been no changes in internal control over financial reporting that
occurred during the fourth quarter of 2015 that have materially affected, or are reasonably likely to materially affect, any of Exelon’s, Generation’s,
ComEd’s, PECO’s and BGE’s internal control over financial reporting.
During 2015 management included an assessment of internal controls over financial reporting of Integrys, a business acquired on
November 1, 2014, that was excluded from management’s prior year evaluation consistent with guidance issued by the Securities and Exchange
Commission that an assessment of internal controls of a recently acquired business may be omitted. The total revenues related to the Integrys
business are 7.45% and 11.46%, respectively, and total assets related to Integrys are approximately 0.53% and 1.08%, respectively, of Exelon’s
and Generation’s related consolidated financial statement amounts as of and for the year ended December 31, 2015.
Exelon, Generation, ComEd, PECO and BGE—Internal Control Over Financial Reporting
Management is required to assess and report on the effectiveness of its internal control over financial reporting as of December 31, 2015. As
a result of that assessment, management determined
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Source: BALTIMORE GAS & ELECTRIC CO, 10-K, February 10, 2016 Powered by Morningstar® Document Research℠
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