AICPA SOC Service Organizations - Certrec

Regulatory Compliance Expert Certrec is Actively Performing NERC Internal Compliance Program Assessments for Leading Power Generation GO/GOP Organizations

Compliance managers gain third party validation regarding the state of their Internal Compliance Program (ICP) through ICP Assessments.

Fort Worth, TX (PRWEB) August 27, 2013 — Certrec, a leading licensing and regulatory compliance provider for NRC, FERC, and NERC compliance, announced today that a leading power generation owner/operator (GO/GOP) has engaged Certrec’s Office of NERC Compliance (ONC) to perform an Internal Compliance Program (ICP) Assessment. 

Certrec’s independent review will evaluate the GOP’s existing Internal Compliance Program (ICP) to determine its adequacy relative to meeting the North American Electric Reliability Corporation’s (NERC) Standards and Requirements and the Federal Energy Regulatory Commission’s (FERC) Enforcement Guidelines. 

Using Certrec’s Internal Compliance Program Assessment Guidance (ICPA), supported by NERC’s Compliance Monitoring and Enforcement Program documentation (CMEP), the ONC team will review and evaluate the GO/GOP’s compliance policies and procedures, training program, the process for self identification and corrective action, and include reviews of any causal determinations and actions to preclude recurrence. 

“An internal compliance program focuses on effective internal controls, incentives to promote compliant behaviors, and the maintenance of a culture of compliance,” says Ted Enos, CEO of Certrec. “We’re excited to be selected for this independent 3rd party review of such a leading generation operator’s Internal Compliance Program. Registered Entities that are able to demonstrate this type of proactive compliance may get ahead of “the power curve” through reduced levels and frequency of NERC compliance monitoring activities.” 

Certrec’s Internal Compliance Program Assessment quantifies what the GO/GOP is doing well, performance gaps, results of prior compliance monitoring methods, violations discovered via audit or self-identified, investigations, repeat violations, corrective actions, and remediation activities. 

Certrec’s Internal Compliance Program Assessment results in a client-specific response to key ICP aspects including a comprehensive description of how the generation operator complies with applicable requirements, a detailed analysis of compliance evidence, evidence authenticated as accurate, scorecards ranking compliance with NERC Standards and requirements and recommendations for corrective actions. The report will also serve as a basis for developing any follow-on activities to address identified vulnerabilities and weaknesses. 

“Managing the impact of the NERC reliability assurance process is a challenge for most compliance managers,” notes Enos. “The electric industry is relatively new to regulatory oversight and some seasoned personnel lack an understanding of the compliance process and its exacting requirements. Many managers have little experience with auditors, writing procedures, and compiling evidence. Keeping up with changing standards and requirements can be a challenge all on its own! We’re pleased to be sharing our regulatory experience with this GO/GOP.” 

Certrec’s Office of NERC Compliance allows Registered Entities to control their compliance destiny through a full suite of Internal Compliance Program solutions – from ICP Assessments to building a comprehensive Internal Compliance Program, through ongoing management of compliance programs via its “Living ICP” offering that includes audit prep and support and maintaining living RSAWs.

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.

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