PG&E 2015 Annual Report Download - page 127

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119
PART II
ITEM 8.FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
Report of Independent Registered Public Accounting Firm
To the Board of Directors and Shareholders of PG&E Corporation and Pacific Gas and Electric Company
San Francisco, California
We have audited the accompanying consolidated balance sheets of PG&E Corporation and subsidiaries (the “Company”)
and of Pacific Gas and Electric Company and subsidiaries (the “Utility”) as of December 31, 2015 and 2014, and the
Company’s related consolidated statements of income, comprehensive income, equity, and cash flows and the Utility’s
related consolidated statements of income, comprehensive income, shareholders’ equity, and cash flows for each
of the three years in the period ended December 31, 2015. These financial statements are the responsibility of the
Company’s and the Utility’s management. Our responsibility is to express an opinion on these financial 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 financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by management, as well as evaluating the overall financial statement
presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, such consolidated financial statements present fairly, in all material respects, the financial position of
PG&E Corporation and subsidiaries and of Pacific Gas and Electric Company and subsidiaries as of December 31,
2015 and 2014, and the results of their operations and their cash flows for each of the three years in the period ended
December 31, 2015, in conformity with accounting principles generally accepted in the United States of America.
We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board (United
States), the Company’s and the Utility’s internal control over financial reporting as of December 31, 2015, based on the
criteria established in Internal Control—Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of
the Treadway Commission and our report dated February 18, 2016 expressed an unqualified opinion on the Company’s
and the Utility’s internal control over financial reporting.
/s/ DELOITTE & TOUCHE LLP
San Francisco, California
February 18, 2016