Today's Law As Amended


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



As Amends the Law Today
As Amends the Law on Nov 18, 2019


SECTION 1.

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

314.5.
 (a) (1) 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-approved general rate case cycle, if that cycle provides for a rate case no less frequently than once every five years.
(2) 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 at least once every five years.
(b) An audit conducted in connection with a rate proceeding shall be deemed to fulfill the requirements of 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 reviews and audits and other pertinent information on its 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 applicable auditing standards.
(c) After performing 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.