This Certrec client’s successful audit was uneventful due to ongoing audit readiness.
Fort Worth, TX (PRWEB) September 26, 2016 — Certrec, a leading regulatory compliance and licensing service provider that supports NERC and NRC compliance, announced today that a registered entity customer had a successful regularly scheduled audit which had almost no impact on regular operations.
“It was like the audit never happened.” –Recently, a registered entity scheduled for an audit discovered it was almost a non-event. “Everything was so seamless, it was like the audit never happened,” stated the compliance manager.
Background
The registered entity with multiple functions including Generator Owner and Generator Operator, recognized the importance and cost savings of a robust NERC compliance program. The registered entity realized very early that they required additional resources to handle their entire NERC compliance program. Certrec was chosen to assist in maintaining the goal of ongoing audit readiness. Providing the necessary expertise, self assessment, engineering, and infrastructure ensures continuous compliance. Certrec’s support was instrumental in helping the registered entity achieve their goal.
Significant investment – 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. SMEs (Subject Matter Experts) 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, 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 in depth reviews, 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 200 generating facilities establish and maintain NERC Compliance Programs. We manage the entire NERC compliance program for 80+ registered entities in the US, Canada, and Mexico 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.
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