2014 Financial Statement
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EDC <strong>2014</strong> Performance Report<br />
Energy Development Corporation<br />
38th Floor, One Corporate Centre Building, Julia Vargas corner Meralco Avenue,<br />
Ortigas Center, Pasig City 1605, Philippines<br />
Trunklines: +63 (2) 667-7332 (PLDT) / +63 (2) 755-2332 (Globe)<br />
MANAGEMENT’S RESPONSIBILITY FOR FINANCIAL STATEMENTS<br />
March 6, 2015<br />
Securities and Exchange Commission<br />
SEC Building, EDSA Greenhills<br />
Mandaluyong, Metro Manila<br />
The management of Energy Development Corporation and subsidiaries (the Company) is<br />
responsible for the preparation and fair presentation of the consolidated financial statements for the<br />
years ended December 31, <strong>2014</strong> and 2013, including the additional components attached therein, in<br />
accordance with the prescribed financial reporting framework indicated therein. This responsibility<br />
includes designing and implementing internal controls relevant to the preparation and fair<br />
presentation of financial statements that are free from material misstatement, whether due to fraud or<br />
error, selecting and applying appropriate accounting policies, and making accounting estimates that<br />
are reasonable in the circumstances.<br />
The Board of Directors reviews, approves and affirms the true and fair representation of the<br />
consolidated financial statements and submits the same to the stockholders.<br />
SyCip, Gorres, Velayo & Co., the independent auditors, appointed by the stockholders has examined<br />
the consolidated financial statements of the Company in accordance with the Philippine Standards on<br />
Auditing, and in its report to the stockholders, has expressed its opinion on the fairness of<br />
presentation upon completion of such examination.<br />
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