BSC Audit Dimensions
The BSC Audit is a national exercise undertaken each year by PricewaterhouseCoopers LLP (PwC), as the current BSC Auditor, with the assistance and co-operation of many industry participants.
The objective of the BSC Audit, as set out in Section H5 of the BSC, is to: “provide assurance (to such level as the Panel considers appropriate) that the provisions of the Code and Code Subsidiary Documents in relation to Settlement and in relation to the calculation of Funding Shares have been complied with in the Audit Year.”
The BSC Audit for 1 April 2010 to 31 March 2011 involved audit activities at the following industry participants (by MPID and participant type):
- 27 Suppliers
- 103 Party Agents and Supplier Meter Registration Agents
- 15 Licenced Distribution System Operators
- 13 Unmetered Supplies Operator
- 7 Meter Administrators
- 3 BSC Agents
- 1 Market Index Data Provider
- ELEXON
The last Audit period resulted in 194 Issue Documents (6 classified as Recitified in Period and 188 Open).
The BSC Auditor had 1 education visits (1 Supplier).
The BSC Audit is retrospective, so work is completed at the end of the audit year. The peak of on-site work is February to April and the BSC Audit Report is published in June each year.
The BSC Audit has a Materiality Threshold of 1.5TWh (for 20011/12 onwards). If the total materiality of the errors found by the BSC Auditor exceeds this threshold, it triggers qualification of the audit opinion (contained within each year’s BSC Audit Report).
Each year, the BSC Auditor publishes a BSC Audit Report (including the opinion) and a Materiality Report, which sets out the quantitative impact of the key issues found during the year.
Presentation and input to BSC committees and industry forums includes:
The BSC Auditor participates in education sessions including:
- Audit debrief meetings with individual participants (annually); and
- Performance conferences/SVA forums (annually).
