Sunoco 2012 Annual Report Download - page 162

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AUDIT COMMITTEE REPORT
The Audit Committee (the “Committee”) of the Board of Directors of Sunoco Partners LLC (the
“Company”) reviews the Partnership’s financial reporting process on behalf of the Board of Directors of the
Company. The Company is the general partner of the Partnership. Our management is responsible for the
financial statements and the reporting process, including the internal control over financial reporting. The
independent registered public accounting firm is responsible for expressing an opinion on the conformity of the
audited financial statements with U.S. generally accepted accounting principles, and an opinion on the
effectiveness of our internal control over financial reporting. The Committee monitors and oversees these
processes.
The Committee discussed with our internal audit department and independent registered public accounting
firm the overall scope and plans for their respective audits. In addition, the Committee has reviewed and
discussed the audited financial statements and management’s and the independent registered public accounting
firm’s evaluations of the Partnership’s system of internal control over financial reporting contained in the 2012
Annual Report on Form 10-K. As part of this review, the Committee met with the General Auditor and the
independent registered public accounting firm, with and without management present, to discuss the results of
their audits and the overall quality of the Partnership’s financial reporting.
As required by the standards of the Public Company Accounting Oversight Board, the Committee has
discussed with the independent registered public accounting firm (1) the matters specified in Statement on
Auditing Standards No. 61, “Communication with Audit Committees,” (Codification of Statements of Auditing
Standards, August 2, 2007 AU 380), as amended, as adopted by the Public Company Accounting Oversight
Board in Rule 3200T; and (2) the independence of the independent registered public accounting firm from the
Partnership and management. The independent registered public accounting firm has provided the Committee the
written disclosures and letter concerning independence, pursuant to applicable requirements of the Public
Company Accounting Oversight Board. The Committee also considered the compatibility of non-audit services
with the independent registered public accounting firm’s independence.
In reliance on the reviews and discussions referred to above, the Committee recommended to the Board of
Directors, and the Board has approved, the inclusion of the audited financial statements and management’s report
on internal control over financial reporting in the Partnership’s Annual Report on Form 10-K for the fiscal year
ended December 31, 2012, for filing with the Securities and Exchange Commission.
Respectfully submitted on February 21, 2013 by the members of the Audit Committee of the Board of
Directors of Sunoco Partners LLC:
Basil Leon Bray (Chairman)
Steven R. Anderson
and Scott A. Angelle.
160