Summary
Enbridge Inc. (ENB) filed its annual report on Form 40-F for the fiscal year ended December 31, 2007. The filing confirms that Enbridge has effective disclosure controls and procedures in place, ensuring timely and accurate reporting to the SEC. Management has also reported positively on the effectiveness of internal control over financial reporting, with no material changes identified during the period. The company has two designated audit committee financial experts who meet NYSE independence standards for foreign private issuers. Enbridge has adopted a code of ethics, the "Statement on Business Conduct," applicable to all employees and officers, which is available on their website. PricewaterhouseCoopers LLP has been the company's auditor since 1992. The filing explicitly states that Enbridge has no off-balance sheet arrangements as defined by the SEC. Further details regarding contractual obligations are incorporated by reference from the Management's Discussion and Analysis. The company has 368,512,396 common shares outstanding as of December 31, 2007, with its common shares registered on the New York Stock Exchange.
Key Highlights
- 1Effective disclosure controls and procedures in place as of December 31, 2007.
- 2No material changes in internal control over financial reporting during the fiscal year.
- 3Two audit committee financial experts identified, meeting NYSE independence standards for foreign private issuers.
- 4Adoption of a "Statement on Business Conduct" (Code of Ethics) applicable to all employees and officers.
- 5PricewaterhouseCoopers LLP has served as the company's auditor since 1992.
- 6No off-balance sheet arrangements as defined by SEC regulations.
- 7368,512,396 common shares outstanding as of December 31, 2007.