ComEd 2006 Annual Report Download - page 468

Approved by Exelon Board of Directors 06-27-06
Main Obligations
Employees are accountable for:
Employees are prohibited from:
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• Prepare financial statements in accordance with Generally Accepted Accounting Principles (GAAP) and Exelon
accounting procedures
• Maintain a sound system of internal controls that provides reasonable assurance that:
• operations and activities are effective and efficient
• financial and operational accounting and reporting are full, fair, accurate, timely and reliable, and reflect the
underlying performance
• authority and accountability to conduct business is delegated in a manner that balances efficient decision-making
with protection of Exelon’s assets and interests
• adequate segregation of duties exists between authorization, creation, approval, custody, record keeping and
reconciliation and
• compliance with Exelon’s policies and practices and applicable laws and regulations is promoted, communicated
and maintained
• understanding and complying with the system of controls established and maintained by management in their
respective organizations, to achieve the expectations contained in the Company’s policy on internal controls
• recording all business transactions, events and conditions accurately and completely
• ensuring that all transactions are properly authorized and approved, recorded and reported in a timely manner and
are adequately supported and
• reporting accounting or internal control deficiencies that have the potential to adversely affect the ability of the
Company to record, process, or report financial or operations data
• falsifying data, information or records with respect to the Company’s finances or operations, including those related
to, among other things: assets, liabilities, revenues, expenses and earnings; quality, safety and security;
environmental performance; plant and equipment; claims; and timekeeping
• accelerating, postponing or otherwise manipulating the accurate and timely recording of assets, liabilities revenues,
expenses or earnings
• creating off-book accounts or funds or making any other entry in any other record that intentionally misrepresents,
conceals or disguises the true nature of any transaction, event or condition and