BSC audit reports
This page details the various reports related to the BSC Audit and includes information on the Audit Issues Report, the Funding Shares Audit and the Scope and approach documents.
On this page
Audit Issues Report
Following the audit, individual and confidential Audit Issue documents will be sent to selected organisations (Audited Entities) and will describe breaches of relevant BSC obligations for any non–compliances that may have been identified. The Auditor will also make recommendations in respect of rectification and all material Audit Issues are given an Impact Rating of high, medium or low.
The BSC Audit Report
The BSC Auditor presents the Annual BSC Audit Report to the BSC Panel in June of each year.
The Audit reports are split between the International Standard on Assurance Engagements (ISAE) 3000 Opinion covering CVA MOAs and Central Systems, and the Process Assessment Report covering Suppliers, SVA Agents and CVA Registrants.
- The SVA & CVA Registrants report for 2023/24 (published on 30 May 2024): SVA & CVA Registrants Process Assessment
- The CVA & Central Systems assessment for 2023/24 (published on 30 May 2024): Central Systems and CVA MOA Market Report
Funding Shares Audit
The Funding Shares Audit forms part of the BSC Audit. Findings from the Funding Shares Audit are published separately.
- Approval of Funding Shares Audit Scope – May 2022 – This paper seeks the Panel’s agreement to the proposed scope of this part of the BSC Audit
- Funding Shares Audit Findings – August 2022 – This paper informs the Panel of the results of the recent audit of the calculation of Funding Shares for year ended 31 March 2022, as part of the BSC Audit
Scope and approach documents
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.
The scope of the BSC Audit is set by the Panel for each Audit year and includes the determination of the annual Audit Materiality Threshold.
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 1.2TWh which represents approximately 0.5% of the total annual electricity supplied across Great Britain in the preceding calendar year.
The BSC Audit incorporates the Funding Shares Audit and takes account of the findings of the Balancing Mechanism (BM) Audit performed by National Grid’s Auditor.
- More about the BM Audit Report (National Grid website)
Scope for 2024-2025
- BSC Audit Scope 2024/25 – Issued: 25 April 2024
- BSC Audit Process Assessment Approach 2024/25 – Issued: 30 may 2024
- BSC Audit Assurance Opinion Approach 2024/25 – Issued: 30 may 2024
Scope for 2023-2024
- BSC Audit Scope 2023/24 – Issued: 30 March 2023
- BSC Audit Process Assessment Approach 2023/24 – Issued: 27 April 2023
- BSC Audit Assurance Opinion Approach 2023/24 – Issued: 27 April 2023
Scope for 2022-2023
- BSC Audit Scope 2022/23 – Issued: 30 June 2022
- BSC Audit SVA Approach 2022/23 – Issued: 30 June 2022
- BSC Audit CVA & Central Systems Approach 2022/23 – Issued: 30 June 2022
Scope for 2021-2022
- BSC Audit Scope 2021/22 – Issued: 30 June 2021
- BSC Audit CVA & Central Systems Approach 2021/22 – Issued: 30 June 2021
- BSC Audit SVA Approach 2021/22 – Issued: 30 June 2021
Scope for 2020-2021
- BSC Audit Scope 2020/21 – Issued: 31 July 2020
Scope for 2019-2020
- BSC Audit Scope 2019/20 – Issued: 31 October 2019
- BSC Audit Approach 2019/20 Assurance Opinion– Issued: 31 October 2019
- BSC Audit Approach 2019/20 Process Assessment– Issued: 31 October 2019
Scope for 2018-2019
- BSC Audit Scope 2018/19– Issued: 30 August 2018
- BSC Audit Approach 2018/19 Assurance Opinion– Issued: 31 October2018
- BSC Audit Approach 2018/19 Process Assessment– Issued: 31 October 2018
Scope for 2017-2018 (H3)
- BSC Audit Scope 2017/18– Issued: 31 August 2017
- BSC Audit Approach 2017/18– Issued: 31 August 2017
Scope for 2016-2017 (H3)
- BSC Audit scope 2016/17– Issued: 16 September 2016
- BSC Audit approach 2016/17– Issued: 3 November 2016
Scope for 2015-2016
- BSC Audit scope 2015/16– Issued: 28 September 2015
- BSC Audit approach 2015/16– Issued: 30 October 2015
Scope for 2014-2015
- BSC Audit scope 2014/15– Issued: 10 March 2014
- BSC Audit approach 2014/15 – Issued: 31 October 2014