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These excerpts taken from the ITC 10-K filed Feb 26, 2009. Changes in
Internal Control over Financial Reporting
There have been no changes in our internal control over
financial reporting during the quarter ended December 31,
2008 that have materially affected, or are reasonably likely to
materially affect, our internal control over financial reporting.
Changes in
Internal Control over Financial Reporting
There have been no changes in our internal control over
financial reporting during the quarter ended December 31,
2008 that have materially affected, or are reasonably likely to
materially affect, our internal control over financial reporting.
Changes in
Internal Control over Financial Reporting
There have been no changes in our internal control over
financial reporting during the quarter ended December 31,
2008 that have materially affected, or are reasonably likely to
materially affect, our internal control over financial reporting.
Changes in Internal Control over Financial Reporting There have been no changes in our internal control over financial reporting during the quarter ended December 31, 2008 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting. Changes in Internal Control over Financial Reporting There have been no changes in our internal control over financial reporting during the quarter ended December 31, 2008 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting. Changes in Internal Control over Financial Reporting There have been no changes in our internal control over financial reporting during the quarter ended December 31, 2008 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting. These excerpts taken from the ITC 10-K filed Feb 29, 2008. Changes in
Internal Control over Financial Reporting
There have been no changes in our internal control over
financial reporting during the quarter ended December 31,
2007 that have materially affected, or is reasonably likely to
materially affect, our internal control over financial reporting.
On December 27, 2007, the lenders under ITC Holdings’
Revolving Credit Agreement, dated as of March 29, 2007,
executed documents increasing their aggregate commitments under
the Revolving Credit Agreement from $80.0 million to
$105.0 million pursuant to the request of ITC Holdings made
under the terms of the Revolving Credit Agreement.
Changes in Internal Control over Financial Reporting There have been no changes in our internal control over financial reporting during the quarter ended December 31, 2007 that have materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.
On December 27, 2007, the lenders under ITC Holdings’ Revolving Credit Agreement, dated as of March 29, 2007, executed documents increasing their aggregate commitments under the Revolving Credit Agreement from $80.0 million to $105.0 million pursuant to the request of ITC Holdings made under the terms of the Revolving Credit Agreement. This excerpt taken from the ITC 10-K filed Mar 8, 2007. Changes in
Internal Control over Financial Reporting
During the course of completing our year-end accounting close,
we determined that our analysis of the accounting impacts of our
recently approved ratemaking mechanism, referred to as
Forward-Looking Attachment O, was not complete at the time
we filed our
Form 10-Q
for the quarterly period ended September 30, 2006.
Management did not ensure that the accounting analysis was
complete and did not ensure that the effects were reflected in
the filing. A material weakness, as defined by the Public
Company Accounting Oversight Board, is a significant deficiency,
or a combination of significant deficiencies, that results in
more than a remote likelihood that a material misstatement of
the annual or interim financial statements will not be prevented
or detected.
As a result of the material weakness identified above, the
interim financial statements included in our
Form 10-Q
were not accurate. We subsequently corrected the interim
financial statements in a
Form 10-Q/A.
During the quarter ended December 31, 2006, we undertook
actions we believe have effectively remediated this material
weakness, such as performing a comprehensive review of the
impacts of any ratemaking changes if and when they become
effective in the future prior to the filing of financial
statements.
Additionally, subsequent to the October 10, 2006 METC
Acquisition and during the fourth quarter of 2006, we
voluntarily adopted, earlier than required, internal control
over financial reporting for METC based on the framework in
Internal Control — Integrated Framework issued by the
Committee of Sponsoring Organizations of the Treadway Commission
(COSO). In most instances, the controls adopted for
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METC are consistent with those already in place for us. In other
instances, where the METC operations differ, the controls
adopted are newly designed.
There have been no other changes in our internal control over
financial reporting during the quarter ended December 31,
2006 that has materially affected, or is reasonably likely to
materially affect, our internal control over financial reporting.
None.
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