Company: BIPC
Filing Date: 2025-03-24
Form Type: 20-F
Source: 0001628280-25-014377
Chunk: 360

Company: Brookfield Infrastructure Corp
Filing Date: 2025-03-24
Form: 20-F
Item: Item 19
Chunk 360
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 plan and perform the audit to obtain reasonable assurance about whether effective internal control over financial reporting was maintained in all material respects. Our audit included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, testing and evaluating the design and operating effectiveness of internal control based on the assessed risk, and performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion.

Definition and Limitations of Internal Control over Financial Reporting

A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements.

F-4 Brookfield Infrastructure Corporation

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

/s/ Deloitte LLP

Chartered Professional Accountants

Licensed Public Accountants

Toronto, Canada

March 21, 2025

Brookfield Infrastructure Corporation F-5

  BROOKFIELD INFRASTRUCTURE CORPORATION          
  CONSOLIDATED STATEMENTS OF FINANCIAL POSITION  

  US$ MILLIONS                                     Notes          As of December 31, 2024                  As of December 31, 2023              
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Assets                                                                                                                                        
  Cash and cash equivalents                        6, 7                                 $         674      $                               539  
  Financial assets                                 6                                   68                  38                                   
  Accounts receivable and other                    6, 8                               786                  939