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61
Item 8. Financial Statements and Supplementary Data
Company Report on Internal Controls Over Financial Reporting
Northeast Utilities
Management is responsible for the preparation, integrity, and fair presentation of the accompanying consolidated financial statements
of Northeast Utilities and subsidiaries (NU or the Company) and of other sections of this annual report. NU’s internal controls over
financial reporting were audited by Deloitte & Touche LLP.
Management is responsible for establishing and maintaining adequate internal controls over financial reporting. The Company’s
internal control framework and processes have been designed to provide reasonable assurance regarding the reliability of financial
reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles.
There are inherent limitations of internal controls over financial reporting that could allow material misstatements due to error or fraud to
occur and not be prevented or detected on a timely basis by employees during the normal course of business. Additionally, internal
controls over financial reporting may become inadequate in the future due to changes in the business environment.
Under the supervision and with the participation of the principal executive officer and principal financial officer, NU conducted an
evaluation of the effectiveness of internal controls over financial reporting based on criteria established in Internal Control – Integrated
Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Based on this evaluation
under the framework in COSO, management concluded that internal controls over financial reporting were effective as of December 31,
2012.
Management has excluded from our assessment of and conclusion on the effectiveness of internal controls over financial reporting the
internal controls of NSTAR LLC, acquired on April 10, 2012, which is included in the consolidated financial statements of the Company
as of and for the year ended December 31, 2012, constituting $11.3 billion and $5.1 billion of total and net assets, respectively, as of
December 31, 2012, and $1,957.8 million and $182.9 million of revenues and net income attributable to controlling interest,
respectively, for the period from April 10, 2012 through December 31, 2012.
February 27, 2013