sec.240Annual audit requirements

sec.240 Annual audit requirements

A prescribed electricity entity’s safety management system must provide that an accredited auditor must carry out an audit under this section at least once each year (an annual audit ). The safety management system must provide that the purpose of the annual audit is for the auditor to assess and report on the entity’s level of compliance in giving effect to the system in relation to— particular hazards or risks; or particular systems or procedures; or any other matter detailed in the system. The safety management system must provide that the prescribed electricity entity must give a copy of the audit plan to the regulator on or before the later of the following days— the day that is 30 days before the annual audit starts; the day agreed between the prescribed electricity entity and the regulator. The safety management system must provide that, as soon as possible after the annual audit is completed, the prescribed electricity entity must give the regulator— the auditor’s audit report; and a certificate from the auditor stating the audit has been completed in accordance with this section. In this section— audit plan , for an annual audit of a safety management system, means a plan that details the scope, objectives, criteria and methodology for the audit. audit report , for an annual audit of a safety management system, means a report by the auditor detailing the findings of the audit by reference to the audit plan. (sec.240-ssec.1) A prescribed electricity entity’s safety management system must provide that an accredited auditor must carry out an audit under this section at least once each year (an annual audit ). (sec.240-ssec.2) The safety management system must provide that the purpose of the annual audit is for the auditor to assess and report on the entity’s level of compliance in giving effect to the system in relation to— particular hazards or risks; or particular systems or procedures; or any other matter detailed in the system. (sec.240-ssec.3) The safety management system must provide that the prescribed electricity entity must give a copy of the audit plan to the regulator on or before the later of the following days— the day that is 30 days before the annual audit starts; the day agreed between the prescribed electricity entity and the regulator. (sec.240-ssec.4) The safety management system must provide that, as soon as possible after the annual audit is completed, the prescribed electricity entity must give the regulator— the auditor’s audit report; and a certificate from the auditor stating the audit has been completed in accordance with this section. (sec.240-ssec.5) In this section— audit plan , for an annual audit of a safety management system, means a plan that details the scope, objectives, criteria and methodology for the audit. audit report , for an annual audit of a safety management system, means a report by the auditor detailing the findings of the audit by reference to the audit plan.