FERC audit staff examines the conduct of regulated entities and the role that audits play in encouraging compliance with Commission requirements. Audits vary in type, scope, and objectives, but primarily focus on materially relevant compliance with Commission requirements, transparency, accountability, operational efficiency and effectiveness, and other areas the Commission deems necessary to accomplish its mission. FERC staff plans, conducts, and reports the results of audits of jurisdictional companies in the wholesale electric power, natural gas pipeline, and oil pipeline industries.
Commencement letters are sent to the entities being audited and publicly posted on the Commissionís online elibrary (eLib). The results of completed audits are also published on the eLib system, along with the order issuing their release and the comments of the audited entity. Through these means, audit staff provides audited entities and the industry with insight into areas of emphasis and concern. In addition, the detail in the scope and methodology section of the public audit reports is designed to enable company compliance staff to replicate procedures DAA employs in its audits and provides companies with the necessary information to evaluate their compliance programs. The most recently completed audits are summarily reported and trends noted in the Annual Report on Enforcement .