UTILITY REGULATORY AUDITOR I

DEFINITION

This is entry-level professional regulatory auditing work for the Missouri Public Service Commission (PSC).

An employee in this class conducts the more elementary portions of audits in large utilities or less complex audits in small utilities. Work involves the analysis and evaluation of management controls, standard production rates, cost allocations, depreciation issues, fiscal procedures or spending priorities to determine revenue requirements or promote efficient and economical utilization of resources. Work also involves evaluating changes in accounting procedures and techniques requested by public utility companies and aiding in the development of a staff position under the authority of the PSC. The employee prepares material which may be used as testimony in hearings involving topics such as rates, services, production, construction, or research and development, and recommends changes affecting the rate structure. The employee exercises limited judgment and discretion in contacts with utilities and co-workers while applying established rules and policies to the audit process. Work is performed as a member of a multi-disciplinary team, and close supervision and training is received from a higher-level auditor or other administrative superior.

Any one position may not involve all of the specified duties or knowledges, skills and abilities, nor are the listed examples exhaustive.

EXAMPLES OF WORK

Receives training in the principles of public utility auditing.

Analyzes inquiries or proposals from staff, consumers, utilities or others which influence the solvency or profitability of utilities; conceptualizes and defines problems from an accounting perspective; consults with internal management to determine type, scope and purpose of forthcoming audits.

Conducts on-site utility audits; interviews workers and examines records to gather data following an audit plan.

Prepares data requests for general discovery and detailed information purposes.

Confers with company officials to discuss financial problems and regulatory matters.

Reviews and evaluates prudency of utility applications for mergers, acquisitions, establishment of new enterprises, or other actions.

Reviews utility budgetary controls for advertising, marketing, production, maintenance and construction projects.

Evaluates changes in product design, materials, production or services to determine effects on costs.

Analyzes financial information detailing previous rate structures, tariffs, distribution of costs, classification of accounts, assets, liabilities and capital; reviews balance sheets, profit and loss statements, trends and costs, estimated and realized revenues, administrative commitments, obligations incurred, depreciation rates of capital assets, and other information; prepares summary of current company financial position and projection of future revenues and expenses.

Analyzes data obtained for evidence of deficiencies in controls, duplication of effort, excess expenditures, fraud or lack of compliance with laws, regulations, management policies or procedures.

Prepares charts, graphs and other portions of reports which summarize and forecast utility business activity and financial position in areas of income, expenses and earnings, based on past, present and expected operations.

Participates in appeal hearings and settlements on contested cases.

Organizes and documents findings of studies; formulates recommendations for implementation of new systems, policies, procedures or organizational changes; plans and prepares reports to management defining problems and possible solutions.

Prepares exhibits and testimony for hearings before the PSC on regulatory or rate adjustments.

Conducts portions of audits or studies pertaining to cost of service, revenue requirements and/or cost allocation issues; may work on the design of new rates in accordance with findings of the Commission.

Assists management personnel, engineers, legal staff, economists and other auditors in the preparation of cases.

Provides technical assistance to utility organizations and provides advice on assumptions underlying budget forecasts.

Reviews periodicals and trade publications; analyzes production or service data in order to stay abreast of changes.

Performs other related duties as assigned.

KNOWLEDGE, SKILLS AND ABILITIES

Working knowledge of accounting and auditing practices and procedures.

Some knowledge of public utility operations and regulations.

Some knowledge of word processing, spreadsheets and database software packages associated with personal computers and accounting practices.

Ability to generate data requests and to analyze the information according to accounting standards.

Ability to communicate effectively and to prepare clear and concise reports.

Ability to generate and provide testimony associated with Commission hearings.

Ability to apply interviewing techniques and solicit pertinent information at various organizational levels.

Ability to establish and maintain effective working relationships with co-workers, utility industry personnel and others involved in the audit process.

Ability to travel as necessary to conduct business.

EXPERIENCE AND EDUCATION QUALIFICATIONS

(The following entrance requirements are used to admit or reject applicants for merit system examinations, or may be used to evaluate applicants for employment in positions not requiring selection from merit system registers. When applicable, equivalent substitution will be allowed for deficiencies in experience or education.)

Graduation from an accredited four-year college or university with specialization in accounting, finance, economics, business or public administration or a closely related area, including or supplemented by twenty-four semester hours of accounting coursework. (Professional or technical experience in accounting, finance, economics, or the utility industry that affords a knowledge of utility management and analysis may be substituted on a year-for-year basis for the required education.)

(Eff. 3/1/95)