New Mexico Administrative Code
Title 17 - PUBLIC UTILITIES AND UTILITY SERVICES
Chapter 3 - UTILITIES FINANCIAL ACCOUNTING AND REPORTING-GENERAL PROVISIONS
Part 360 - PROCEDURES FOR THE AUDIT AND EXAMINATION OF UTILITY BOOKS AND RECORDS OF ACCOUNTS
Section 17.3.360.7 - DEFINITIONS

Universal Citation: 17 NM Admin Code 17.3.360.7

Current through Register Vol. 35, No. 18, September 24, 2024

Unless otherwise defined the following terms shall have the following meanings for the purposes of these rules of examination and auditing procedures.

A. "Accounts" means the uniform system of accounts for each utility as prescribed by the Code of Rules and Regulations of the New Mexico Public Service Commission [New Mexico Public Regulation Commission] or any other system of accounts maintained by the utility as ordered by the Commission [New Mexico Public Regulation Commission].

B. "Audit" or "Examination" means the process by which evidence is accumulated and evaluated.

C. "Audit report" means the final written report of the auditor's findings concerning the utility's compliance or non-compliance with the uniform system of accounts, and may, but is not required to, include any opinions and conclusions of the auditor in addition to the factual information contained therein.

D. "Auditor" means a member or members of the Staff of the New Mexico Public Service Commission [New Mexico Public Regulation Commission] as defined in the Code of Rules and Regulations of the NMPSC qualified and authorized to perform or assist in the performance of an audit undertaken pursuant to Rule 360 [17.3.360 NMAC].

E. "Evidence" means any information relied upon by the auditor to determine the degree of correspondence between quantifiable information and established criteria for the maintenance of the utility's records under the uniform system of accounts as prescribed for such utility.

F. "Routine audit" means any audit or examination undertaken pursuant to Rule 360 [17.3.360 NMAC], with the exception of Rule 360.7 [17.3.360.12 NMAC] which pertains only to special audits.

G. "Special audit" means any audit or examination undertaken pursuant to Rule 360.7 [17.3.360.12 NMAC], and the provisions of Rule 360.5 and 360.6 [17.3.360.10 NMAC and 17.3.360.11 NMAC] shall not apply to a special audit. All other provisions of Rule 360 [17.3.360 NMAC] are applicable to a special audit.

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