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NPRR330
Summary
| Title | Change in Frequency of Four Protocol Required Audits from Annual to Periodic (formerly "Change in Frequency of Five Protocol Required Audits from Annual to Periodic") |
|---|---|
| Next Group | |
| Next Step | |
| Status | Approved on 06/21/2011 |
| Effective Dates |
07/01/2011
|
Action
| Date | Gov Body | Action Taken | Next Steps |
|---|---|---|---|
| 06/21/2011 | BOARD | Approved | |
| 05/05/2011 | TAC | Recommended for Approval | BOD consideration |
| 04/21/2011 | PRS | Recommended for Approval | TAC consideration |
| 03/24/2011 | PRS | Recommended for Approval | PRS review the IA. |
Voting Record
| Date | Gov Body | Motion | Result |
|---|---|---|---|
| 06/21/2011 | BOARD | To approve NPRR330 as recommended by TAC in the 5/5/11 TAC Report. | Passed |
| 05/05/2011 | TAC | To recommend approval of NPRR330 as recommended by PRS in the 4/21/11 PRS Report and as revised by TAC. | Passed |
| 04/21/2011 | PRS | To endorse and forward the 3/24/11 PRS Report as amended by the 4/5/11 ERCOT comments and Impact Analysis for NPRR330 to TAC | Passed |
| 03/24/2011 | PRS | To recommend approval of NPRR330 as revised by PRS. | Passed |
Background
| Status: | Approved |
|---|---|
| Date Posted: | Feb 24, 2011 |
| Sponsor: | ERCOT |
| Urgent: | No |
| Sections: | 1.4.3.1, 3.10, 17.3.3 |
| Description: | This Nodal Protocol Revision Request (NPRR) revises the frequency for the ERCOT Internal Audit Department to perform audits from an annual basis to a periodic basis. This NPRR impacts: (1) Three annual ERCOT Internal Audit Department-performed audits that are required by paragraph (2) of Section 1.4.3.1: (a) Ethics Compliance Audit -- Compliance with Code-of-Conduct and Ethics Corporate Standard (b) Confidentiality Compliance Audit -- Compliance with Confidentiality and Protected Information Provisions of Protocols (c) Independence Verification Audit -- ERCOT Administration of Protocols is Independent of Market Participants. The ERCOT Internal Audit Department has performed the above three audits annually since 2008. (2) One independent audit required by paragraph (5) of Section 3.10: (a) Audit of Consistent Information in Operations Models This is a new Nodal Protocol required audit and is being performed for the first time in 2011 by the ERCOT Internal Audit Department. (3) One audit required by Section 17.3.3: (a) Audit of ERCOT Market Monitoring Data Handling Processes This is a new Nodal Protocol required audit and is being performed for the first time in 2011 by the ERCOT Internal Audit Department. The ERCOT Internal Audit Department tentatively plans to perform the above five audits no less than once every three years. |
| Reason: | Changing the frequency of four ERCOT Internal Audit Department-performed "Protocol Required" audits from an annual basis to a periodic basis will permit the ERCOT Internal Audit Department to interject a "risk assessment" into the annual audit planning process and to prioritize its limited audit resources to those audits of greatest importance and those that address current and emerging risks facing the organization. |
Key Documents
Feb 24, 2011 - doc - 90.5 KB
Feb 24, 2011 - doc - 44 KB
Apr 1, 2011 - doc - 98 KB
Apr 6, 2011 - doc - 50.5 KB
Apr 26, 2011 - doc - 98.5 KB
May 6, 2011 - doc - 100 KB
Jun 22, 2011 - doc - 101.5 KB