This article provides an overview of the abbreviated financial statements of Tennessee Piedmont Natural Gas Business, a subsidiary of Duke Energy Corporation for the years ended December 31, 2024 and 2023.
The financial statements include the assets acquired, liabilities assumed, revenues, and direct expenses of the company.
Key information and insights from the independent auditor's report and notes are analyzed in detail.
Auditor's Opinion
The auditor's report confirms that the financial statements present fairly the assets acquired and liabilities assumed of the company for 2024 and 2023 in accordance with US accounting principles.
Basis for Opinion
The audits were conducted in accordance with auditing standards accepted in the United States, providing a basis for the auditor's opinion on the financial statements' accuracy.
Management Responsibilities
Management is responsible for the fair presentation of financial statements and for maintaining internal controls to prevent material misstatements.
Audit Objectives
The audit aims to provide reasonable assurance that the financial statements are free from material misstatements, whether due to fraud or error.
Professional Judgment
The auditors exercise professional judgment and maintain skepticism to identify and assess risks of misstatement.
- The detailed financial information and audit process enhance transparency and reliability in reporting financial performance.
- Management's responsibility for financial statements underscores the importance of internal controls and accuracy in reporting.
The review of Tennessee Piedmont Natural Gas Business's financial statements highlights the commitment to transparency and accuracy in financial reporting within Duke Energy Corporation.