Company: TVC
Filing Date: 2025-11-13
Form Type: 10-K
Source: 0001376986-25-000056
Chunk: 375

Company: Tennessee Valley Authority
Filing Date: 2025-11-13
Form: 10-K
Item: Item 1
Chunk 375
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 select Ernst & Young LLP as TVA's external auditor for the 2025 and 2024 audits and other related services, and the TVA Board approved these recommendations.

    TVA has a policy (the "Policy") that requires all auditing services and permissible non-audit services provided by the external auditor to be pre-approved by the Audit Committee.  The Policy also lists the following services as ones the external auditor is not permitted to perform:

•Bookkeeping or other services related to the accounting records or financial statements of TVA;

•Financial information system design and implementation;

•Appraisal or valuation services, fairness opinions, and contribution-in-kind reports;

•Actuarial services;

•Internal audit outsourcing services;

•Management functions or human resources;

•Broker or dealer, investment adviser, or investment banking services;

•Legal services and expert services unrelated to the audit; and

•Any other services that the Public Company Accounting Oversight Board determines, by regulation, are impermissible.

    The Policy also delegates to the Chair of the Audit Committee the authority to pre-approve a permissible service so long as the amount of the service does not exceed $100,000 and the total amount of services pre-approved during the year by the Chair does not exceed $200,000.  The Chair must report for informational purposes the services pre-approved under this provision at the Audit Committee's next meeting.

The Audit Committee pre-approved all audit services for 2025 and 2024.

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PART IV

ITEM 15.  EXHIBITS, FINANCIAL STATEMENT SCHEDULES

(a)      The following documents have been filed as part of this Annual Report on Form 10-K for the fiscal year ended September 30, 2025 ("Annual Report"):

(1)    Consolidated Financial Statements.  The following documents are provided in Part II, Item 8, Financial Statements and Supplementary Data herein:

Consolidated Statements of Operations

Consolidated Statements of Comprehensive Income (Loss)

Consolidated Balance Sheets

Consolidated Statements of Cash Flows

Consolidated Statements of Changes in Proprietary Capital

Notes to Consolidated Financial Statements

Report of Independent Registered Public Accounting Firm (Ernst & Young LLP)

(2)        Consolidated Financial Statement Schedules.

Schedules not included are omitted because they are not required or because the required information is  provided in the consolidated financial statements, including the notes thereto.

    (3)        List of