AICPA SOC Service Organizations - Certrec

Regulatory Compliance Expert Certrec is Actively Performing Quick Due Diligence Reviews for NERC Entities Prior to Acquisitions

Certrec’s Office of NERC Compliance offers a cost-effective NERC Due Diligence review that can help entities saves thousands of real dollars

Fort Worth, Texas (PRWEB) October 14, 2014 — Certrec, a leading licensing and regulatory compliance service provider that supports NRC and NERC compliance, is pleased to announce their expertise and availability to support an initial due diligence review prior to an entity making an investment decision. 

“Many entities discover significant savings by using Certrec’s experienced NERC team to perform the initial due diligence review prior to deploying their technical team and regulatory counsel. Significant savings can be realized by allowing Certrec to provide a basis for a preliminary go/no go decision thereby allowing your team to effectively focus its resources on improvement opportunities,” says Ann Broussard, Office of NERC Compliance Business Development Director. 

There are four major points to consider when performing a due diligence review: 

  1. Identify risks associated with current regulatory programs. Often when acquisitions are being considered, NERC regulatory vulnerabilities are not evaluated by experienced regulatory experts. Failure to adequately determine NERC regulatory vulnerabilities often results in unexpected expenditures requiring implementation of required procedures and processes. Additionally, the risk of assuming existing violations and associated fines is often overlooked. 
  2. Identify assets to acquire. Make informed decisions about the assets to be acquired. Including a substation or several miles of transmission line may not be the bargain thought when additional regulatory responsibilities are evaluated. 
  3. Obtain solid technical perspective. NERC required evidence includes test and maintenance records which provide an excellent overview of how assets have been managed and maintained. Certrec’s NERC personnel have extensive engineering/operations experience as well as regulatory experience to conduct meaningful reviews of these records to determine current status of compliance. 
  4. Sign contracts that make sense. Be sure to identify arrangements that work for all parties rather than create burdens that would be more appropriately handled by a different entity. Ensure a prospective partner is ACTUALLY registered and qualified to provide a NERC regulated service. 

“A proven regulatory program can provide significant savings. NERC pays close attention to entities that historically experience challenges in compliance, adding more frequent audits and, possibly, fines,” notes Broussard.

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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