Regulatory audits are intended to provide the Commission with independent assurance that licensees are complying with their licence obligations.
A licence for energy distribution or retail requires the licensee to: comply with various codes and guidelines; monitor its own compliance and report material breaches to the Commission; conduct independent audits of its compliance and of the reliability and quality of the information that it reports to the Commission.
Regulatory audits are generally performed by an independent auditor selected from a panel. They follow the requirements of the Commission’s Guideline No. 22 – Regulatory Audits of Energy Businesses.
Distribution and retail: The Commission undertook a review of its audit framework, to address known issues and ensure that the Commission has an effective audit methodology for both retail and distribution businesses.