Goto Section: 53.209 | 53.213 | Table of Contents
Revised as of November 23, 2020
Goto Year:2020 |
§ 53.211 Audit planning.
(a) Before selecting an independent auditor, the Bell operating company
shall submit preliminary audit requirements, including the proposed
scope of the audit and the extent of compliance and substantive
testing, to the Federal/State joint audit team organized pursuant to
(b) The Federal/State joint audit team shall review the preliminary
audit requirements to determine whether it is adequate to meet the
audit requirements in § 53.209 (b). The Federal/State joint audit shall
have 30 days to review the audit requirements and determine any
modifications that shall be incorporated into the final audit
(c) After the audit requirements have been approved by the
Federal/State joint audit team, the Bell operating company shall engage
within 30 days an independent auditor to conduct the biennial audit. In
making its selection, the Bell operating company shall not engage any
independent auditor who has been instrumental during the past two years
in designing any of the accounting or reporting systems under review in
the biennial audit.
(d) The independent auditor selected by the Bell operating company to
conduct the audit shall develop a detailed audit program based on the
final audit requirements and submit it to the Federal/State joint audit
team. The Federal/State joint audit team shall have 30 days to review
the audit program and determine any modifications that shall be
incorporated into the final audit program.
(e) During the course of the biennial audit, the independent auditor,
among other things, shall:
(1) Inform the Federal/State joint audit team of any revisions to the
final audit program or to the scope of the audit.
(2) Notify the Federal/State joint audit team of any meetings with the
Bell operating company or its separate affiliate in which audit
findings are discussed.
(3) Submit to the Chief, Enforcement Bureau, any accounting or rule
interpretations necessary to complete the audit.
[ 62 FR 2926 , Jan. 21, 1997, as amended at 67 FR 13226 , Mar. 21, 2002]
Goto Section: 53.209 | 53.213
Goto Year: 2020 |
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