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Division of Audits and Accounting

Mission
Performs financial and operational audits of industry participants to ensure compliance with the Commission's rules, orders, regulations, and statutes. Maintains a forum to informally resolve disputes and advises the Commission compliance issues. Acts as the focal point for interpretive guidance concerning the Commission's financial accounting and reporting rules, orders, regulations and statutes. Maintains a forum to informally resolve disputes and advises the Commission on accounting and other financial issues.

Functions

  • Participates in development of the Commission's strategic plan and recommends regulatory and statutory changes necessary to carry out the enforcement and compliance process.


  • Participates in the development and the analysis of legislation impacting the accounting and auditing programs.


  • Represents the Commission and explains and advocates accounting and auditing positions in meetings with industry, other agencies and the public.


  • Drafts orders, rulemakings and associated memoranda and advises the Commission on matters pertaining to auditing, accounting, and related compliance matters.


  • Plans and performs audits of jurisdictional companies in the electric power, natural gas and oil pipeline industries concentrating on materially relevant issues. Reports the audit findings to both the Commission and the affected companies. Recommends corrective actions in cases of error and suggests preventive measures to avoid problems in the future.


  • Updates and documents audit and accounting processes. Develops and documents new types of audits that respond to the needs of the Commission, the industry, and jurisdictional companies. Develops policy and criteria for performing audits, including pilot audits when appropriate.


  • Performs trend analysis on industry related financial issues. Develop suggested courses of action to anticipate industry's direction and practices.


  • Advises OE and the Commission on the accounting and financial reporting policy matters involving, but not limited to, acquisitions and dispositions of jurisdictional facilities (ECs); rate filings (ERs); and gas pipeline certificates (CPs) applications.


  • Reviews exposure drafts and pronouncements of authoritative accounting bodies such as the Security and Exchange Commission and the International Accounting Standards Board to determine the effect of new or proposed accounting standards on regulated industries and the Commission's regulatory programs. Prepares comments on such proposals as appropriate.


  • Conducts/participates in accounting studies to evaluate the need for changes or the establishment of new accounting standards for new or unique transactions or events.


  • Prepares and coordinates necessary revisions and or amendments to the Commission's Uniform Systems of Accounts.


  • Analyzes, coordinates and recommends action on all applications concerning Commission approval of proposed accounting or requests for interpretive guidance.


  • Provides expert counsel to Commission Officials concerning a variety of financial, accounting, tax, and other related matters.

CONTACT
Bryan Craig, Director & Chief Accountant
Telephone: 202-502-8741
Email: bryan.craig@ferc.gov

Timothy Smith, Deputy Director
Telephone: 202-502-8432
Email: timothy.smith@ferc.gov

Steven Hunt, Deputy Chief Accountant
Telephone: 202-502-6084
Email: steve.hunt@ferc.gov

Stephen Flanagan, Economist
Telephone: 202-502-8743
Email: stephen.flanagan@ferc.gov

Accounting Inquiries
Telephone: 202-502-8877
Email: accountinginquiries@ferc.gov
 
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Updated: August 29, 2013