ComEd 2006 Annual Report Download - page 154

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
Management’s Report on Internal Control Over Financial Reporting
The management of Exelon Corporation (Exelon) is responsible for establishing and maintaining
adequate internal control over financial reporting. Exelon’s internal control over financial reporting is a
process designed to provide reasonable assurance regarding the reliability of financial reporting and
the preparation of financial statements for external purposes in accordance with accounting principles
generally accepted in the United States of America.
Because of its 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 the policies or procedures may deteriorate.
Exelon’s management conducted an assessment of the effectiveness of Exelon’s internal control
over financial reporting as of December 31, 2006. In making this assessment, management used the
criteria in Internal Control—Integrated Framework issued by the Committee of Sponsoring
Organizations of the Treadway Commission. Based on this assessment, Exelon’s management
concluded that, as of December 31, 2006, Exelon’s internal control over financial reporting was
effective.
Management’s assessment of the effectiveness of Exelon’s internal control over financial reporting
as of December 31, 2006 has been audited by PricewaterhouseCoopers LLP, an independent
registered public accounting firm, as stated in their report which appears on the next page of this
Annual Report on Form 10-K.
February 13, 2007
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