Independent Compliance Audit Guidelines
The Commission has published Independent Compliance Audit Guidelines under the Electricity Industry Performance Code.
Under the Electricity Industry Performance Code, electricity entities are required to submit to the Commission a report on their actual performance in the financial year against the performance indicators set out in the Electricity Industry Performance Code (generators and retailers must submit their report by 31 August and network entities must submit their report by 31 October).
The Electricity Industry Performance Code requires an electricity entity to periodically collect and maintain data (in connection with the target standards, performance indicators or reporting requirements) as is reasonably sufficient for the purpose of complying with its obligations under the Electricity Industry Performance Code, and enabling the Commission to perform its functions under the Electricity Industry Performance Code.
To ensure compliance, electricity entities are required to undertake an independent audit at least once every three years for each performance indicator that the electricity entity is required to report against.
The intent of the Independent Compliance Audit Guidelines is to assist electricity entities in meeting these obligations under the Electricity Industry Performance Code.