Today's Law As Amended

PDF |Add To My Favorites |Track Bill | print page

AB-1072 Public Utilities Commission: audits and reviews.(2019-2020)



SECTION 1.

 Section 314.5 of the Public Utilities Code is amended to read:

314.5.
 (a) The commission shall inspect and audit the books and records for regulatory and tax purposes as follows:
(a)  (1) At least once every three years in the case  The commission shall audit the books and records for regulatory purposes  of every electrical, gas, heat, telegraph, telephone, and water corporation serving over 10,000 customers at least once every three years  or in accordance with the commission authorized  commission-approved  general rate case cycle, if that cycle provides for a rate case no less frequently than once every five years.
(2) At least once every five years in the case  The commission shall review or audit the books and records for regulatory purposes  of every electrical, gas, heat, telegraph, telephone, and water corporation serving 10,000 or fewer customers. customers at least once every five years. 
(b) An audit conducted in connection with a rate proceeding shall be deemed to fulfill the requirements of this section. paragraph (1) of subdivision (a), and a review or audit conducted in connection with a rate proceeding shall be deemed to fulfill the requirements of paragraph (2) of subdivision (a). 
(c) The commission shall post reports of the inspections  reviews  and audits and other pertinent information on its Internet Web site. internet website. 

SEC. 2.

 Section 314.6 of the Public Utilities Code is amended to read:

314.6.
 (a) The commission may conduct financial and performance reviews or  audits of any entity or program created by any order, decision, motion, settlement, or other action of the commission.
(b) The commission shall complete any review or  audit in a timely manner consistent with the Generally Accepted Government Auditing Standards. applicable auditing standards. 
(c) After performing an  a review or  audit pursuant to this section, the commission may conduct additional followup work that is related to any findings and recommendations related to the review or  audit.
(d) Beginning January 15, 2020, and every year thereafter, the commission shall post on its internet website its standard practice audit manual, titled Utility Audit, Finance and Compliance Branch UAFCB Audit and Attestation Standard Practice, and updates to that manual, if any.