AICPA SOC Service Organizations - Certrec

Certrec Client’s 20-Minute NERC Audit Experience Results in Significant Savings

Certrec’s Office of NERC Compliance offers a cost-effective solution that can help entities meet their compliance goals.

Fort Worth, TX (PRWEB) June 21, 2017 — Certrec, a leading regulatory compliance and licensing service provider that supports NERC and NRC compliance, announced today that a registered entity client had a successful NERC audit that lasted all of 20 minutes. 

Certrec’s Client States “The audit experience far exceeded our best case scenario expectations.” 

Background – The registered entity was well prepared for their audit. Certrec was selected when the entity realized very early that they lacked sufficient human resources to handle their entire NERC compliance program. Providing the necessary expertise to perform thorough self-assessments, engineering analyses, and IT evaluations helped ensure compliance. Certrec helped the registered entity achieve their compliance goal. “The auditor described our program as ‘robust and compliant,” stated the client’s NERC compliance manager. 

Significant savings – Many registered entities, as well as regional entities, invest significant resources in audit preparation. Initially, the registered entity organizes and reviews procedures, policies, and evidence. RSAWs are developed. Subject Matter Experts (SMEs) are identified and prepared for their role in the audit. Mock audits are held to prepare the team for a successful audit with their regional entity. During these activities, the regional entity is preparing for the audit: reviewing previous audits with the registered entity, deciding how many and what standards will be included in the audit, staffing, etc. 

When all aspects are considered, the registered entity and the regional entity, each have invested thousands of dollars in resources to prepare for an audit. Some estimates range from $75,000 to $100,000 for each entity. 

Determine current state of regulatory program – Many registered entities may find audit preparation challenging due to the dynamic, and, sometimes, complex technical nature of the associated regulations. Often these regulations can be misunderstood, and, in some cases, may go unnoticed by the registered entity. A proven regulatory program can provide significant savings. NERC pays close attention to entities that historically experience challenges in compliance, adding more frequent audits, increased audit scope, and, possibly, fines. 

With Certrec your NERC work is done once and done right.

About Certrec:
Certrec is a leading provider of regulatory compliance solutions for the energy industry with the mission of helping ensure a stable, reliable, bulk electric supply. Since 1988, Certrec’s SaaS applications and consulting know-how have helped hundreds of power-generating facilities manage their regulatory compliance and reduce their risks.

Certrec’s engineers and business teams bring a cumulative 1,500 years of working experience in regulatory areas of compliance, engineering, and operations, including nuclear, fossil, solar, wind facilities, and other Registered Entities generation and transmission.

Certrec has helped more than 120 generating facilities establish and maintain NERC Compliance Programs. We manage the entire NERC compliance program for 60+ registered entities in the US and Canada that trust us to decrease their regulatory and reputational risk. Certrec is ISO/IEC 27001:2022 certified and has successfully completed annual SOC 2 Type 2 examinations.

For press and media inquiries, please contact marketing@certrec.com.

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