Auditing and Compliance
Role of Auditors
Auditors play a crucial role in the BEC system by ensuring the integrity and credibility of the BECs. They are responsible for conducting independent audits of the BEC transactions to verify that they comply with the BEC 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:
Verification: Auditors verify that the data used to create BECs is accurate and that the BECs have been correctly calculated according to the BEC Standards & Guidelines.
Compliance: Auditors check that BEC transactions comply with the BEC Standards & Guidelines. This includes checking that BECs are correctly registered, transferred, and retired in the BEC Registry.
Reporting: Auditors prepare audit reports detailing their findings. These reports are made available to the public to ensure transparency.
Process for Auditing Transactions
The auditing process is designed to ensure the integrity and credibility of the BECs. It provides an additional layer of oversight and transparency to the BEC registry. The auditing process for BEC transactions is as follows:
Selection: Clean Incentive selects auditors based on their expertise and qualifications. They must be independent third parties with no conflicts of interest.
Preparation: Auditors prepare for the audit by reviewing the BEC Standards & Guidelines and the data and documents related to the BEC transactions.
Execution: Auditors conduct the audit by checking the data and documents related to the BEC transactions. They verify that the BECs have been correctly calculated and that the transactions comply with the BEC Standards & Guidelines.
Reporting: Auditors prepare an audit report detailing their findings. The report is reviewed by Clean Incentive and made available to the public.
Last updated