Topic: Audits (4 items)

I’m about to be Audited – what do I need to know?

Your OSM and the BSC Auditor will be in touch with you to discuss the audit process, and answer any questions you may have. You will be offered a planning meeting to talk about arrangements for the site visit and any data requests. We offer an online tool, the BSC Audit Communications System, which is [...]

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What does a ‘Qualified’ BSC Audit Opinion mean?

The BSC Auditor will ‘Qualify’ its audit opinion if it cannot provide reasonable assurance that the total level of error in Settlement is less than the Materiality Threshold. The Materiality Threshold is currently 1.5TWh which represents approximately 0.5% of the total annual electricity supplied across Great Britain.

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What happens after the Audit?

The BSC Auditor presents his Annual BSC Audit Report in June each year to the BSC Panel. This and Market Issues relating to specific market roles are located in Performance Assurance Reports. Individual and confidential Audit Issue Documents are distributed to Audited Entities. ELEXON works with those parties on resolution.

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What happens during the Audit?

The BSC Panel sets the scope of the BSC Audit each year. Following this, the BSC Auditor develops an Audit Approach which describes how it will deliver the work required to meet the scope. Below are copies of the current BSC Audit Scope, BSC Audit Scope Diagrams and non-confidential version of the BSC Audit Approach. [...]

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