Review of participant audit regime
Background to the project
26 Jan 2015
The audit regime is the audit, certification and approval process followed by auditors, participants and the Authority in accordance with Parts 10, 11 and 15 of the Code.
The Code requires participants involved in determining inputs into the wholesale settlement of the electricity market to arrange for and submit audits to the Authority.
These audits are used by the Authority to:
- approve test houses
- certify reconciliation participants and dispatchable load purchasers
- determine the next audit date for dispatchable load purchasers.
Distributors must submit audits, however there is no Code obligation on the Authority to make a decision based on the information contained in the audit.
A focus of the audit regime is to assess participants’ compliance with the Code and determine what actions each participant is taking to address any relevant Code breaches.
The Authority is reviewing the participant audit regime to ensure the purpose is well defined, to more closely align audits with auditing ‘best practice’ and to pursue changes that will better align the regime with the Authority’s statutory objective