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as of September 19, 2016:

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Records Review Best Practices
IRP Records Review Best Practices Document

About IRP Records Review Programs
A Records Review Program involves evaluating a registrant’s distance accounting system and internal controls to ensure compliance with the Plan. The primary purpose is to reduce potential record keeping compliance issues. Some jurisdictions choose to perform records reviews; some do not.

The implementation of a Records Review Program can educate new registrants on proper record keeping requirements, and may also serve to confirm whether established registrants are adhering to the requirements. The review of the registrant’s distance accounting system is limited in scope and does not impact fees.

A Records Review Program can also help a jurisdiction fulfill the IRP annual audit requirement. Three records reviews equate to one audit; reviews may account for up to 25% of a jurisdiction’s annual audit requirement.

Find more information and established guidelines about this discretionary program in Article 7 of the Audit Procedures Manual. Read about best practices in the IRP Audit Reference and Best Practices Guide.

Thanks to the IRP Audit Committee for the following information, provided in an effort to educate the IRP community.
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