Auditing and Compliance

Role of Auditors

Auditors play a crucial role in the PEC system by ensuring the integrity and credibility of the PECs. They are responsible for conducting independent audits of the PEC transactions to verify that they comply with the PEC Standards & Guidelines. Auditors must be independent third parties with the necessary expertise and qualifications to conduct audits in the renewable energy sector.

The responsibilities of auditors include:

1. Verification: Auditors verify that the data used to create PECs is accurate and that the PECs have been correctly calculated according to the PEC Standards & Guidelines.

2. Compliance: Auditors check that PEC transactions comply with the PEC Standards & Guidelines. This includes checking that PECs are correctly registered, transferred, and retired in the PEC Registry.

3. Reporting: Auditors prepare audit reports detailing their findings. These reports are made available to the public to ensure transparency.

Process for Auditing PEC Transactions

The auditing process is designed to ensure the integrity and credibility of the PECs. It provides an additional layer of oversight and transparency to the PEC system. The auditing process for PEC transactions is as follows:

1. Selection: Auditors are selected by Clean Incentive based on their expertise and qualifications. They must be independent third parties with no conflicts of interest.

2. Preparation: Auditors prepare for the audit by reviewing the PEC Standards & Guidelines and the data and documents related to the PEC transactions.

3. Execution: Auditors conduct the audit by checking the data and documents related to the PEC transactions. They verify that the PECs have been correctly calculated and that the transactions comply with the PEC Standards & Guidelines.

4. Reporting: Auditors prepare an audit report detailing their findings. The report is reviewed by Clean Incentive and made available to the public.