Exelon 2014 Annual Report Download - page 124

CERTIFICATIONS
The CEO of Exelon has made the required annual certifications for 2014 to the New York Stock Exchange in compliance with the
New York Stock Exchange listing standards. The CEO and CFO have filed with the SEC all required certifications under section 302
of the Sarbanes-Oxley Act of 2002. These certifications are filed as exhibits 31-1 and 31-2 to Exelon’s 2014 Form 10-K.
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, as such term is defined in Exchange Act Rule 13a-15(f). 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 generally accepted accounting principles.
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, 2014. In making this assessment, management used the criteria in Internal Control—Integrated Framework
(2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission. Based on this assessment, Exelon’s
management concluded that, as of December 31, 2014, Exelon’s internal control over financial reporting was effective.
We excluded Integrys, which we acquired on November 1, 2014, from management’s assessment of the effectiveness of Exelon’s
internal control over financial reporting as of December 31, 2014. This exclusion is in accordance with the SEC’s general guidance
that an assessment of a recently acquired business may be omitted from our scope in the year of acquisition.
The effectiveness of the Exelon’s internal control over financial reporting as of December 31, 2014, has been audited by
PricewaterhouseCoopers LLP, an independent registered public accounting firm, as stated in their report which appears herein.
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