Section 656.100  Annual Internal Audit

The utility shall submit annually to the Commission's Manager of the Accounting Department, no later than June 30 for the previous calendar year, an internal audit report that determines whether the QIP surcharge and information provided under the Annual Reconciliation in Section 656.80 have been calculated in accordance with this Part. The initial internal audit report shall be submitted no later than June 30 of the year following the effective date of the QIP surcharge rider. Internal audits conducted under this Part shall determine whether:

a)         Internal controls are effectively preventing the double recovery of costs through the QIP surcharge and other approved tariffs;

b)         Costs recovered through the QIP surcharge are recorded in the appropriate accounts;

c)         Costs recovered through the QIP surcharge are properly reflected in the calculation of the QIP surcharge percentage and the annual reconciliation;

d)         The QIP surcharge percentage and annual reconciliation properly reflect all applicable adjustments from prior QIP surcharge reconciliation Orders;

e)         The QIP surcharges are properly calculated; and

f)         The QIP surcharge percentage is being properly billed to customers.

(Source:  Added at 40 Ill. Reg. 9467___, effective July 1, 2016)