It's the audio controller only for HDMI devices, if you were to connect a TV or a receiver to the laptop, it would show up. You are probably missing drivers for your motherboards sound card. Visit your laptops driver page on manufacturers website and search for audio drivers. I would have given a download link if you had specified the model.
Intel I7 3770K @ 4.5ghz, Cooler Master Hyper 212 Evo, Gigabyte Z77X-UD3H, Gigabyte HD7970 ghz edition, 4x4gb Kingston HyperX Beast 2133mhz, Seasonic Platinum 860, OCZ Vertex 4 128gb, WD Black 1TB, WD Green 3TB+1.5TB, ASUS Xonar Essence ST, ASUS VE278Q, Windows 3.11