United States: Audit Evaluates Compliance With Accounting And Reporting Regulations - The Division Of Audits Addresses Deficiencies In The AFUDC Rate Computation
22 February 2012
Article by John D. McGrane, Pamela C. Tsang and Glen S. Bernstein
On February 7, the Division of Audits of the Office of
Enforcement of the Federal Energy Regulatory Commission (FERC)
issued a report presenting the areas of noncompliance it identified
during an audit of PNM Resources (PNMR), an energy holding company,
and Public Service Company of New Mexico (PNM), a wholly owned
public utility operating company subsidiary of PNMR.1
Audit Staff evaluated PNMR and PNM's compliance with
cross-subsidization restrictions on affiliate transactions;
accounting, recordkeeping, and reporting requirements; the Uniform
System of Accounts (USofA) for...
Specific Questions relating to this article should be addressed directly to the author.
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