UTILITY REGULATORY AUDITOR II

DEFINITION

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

An employee in this class conducts portions of complex audits in large utilities or complete 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 considerable independent judgment and discretion in contacts with utilities and co-workers and in making decisions or determinations involving the application of rules, policies and techniques. Work is performed as a member of a multi-disciplinary team, and general supervision is received from a higher level auditor or other administrative superior who reviews work for technical adequacy and conformance to established rules and policies.

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

Conducts portions of complex audits in large utilities or complete audits of small utilities.

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.

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 and presents exhibits and testimony as an expert witness and responds to cross-examination in hearings before the PSC; analyzes testimony and exhibits presented by utility company officials and their consultants.

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.

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.

Provides technical accounting information and advice and works in association with management personnel, engineers, legal staff, economists and other auditors in the preparation of cases.

Provides technical assistance to utility organizations and advises management on matters such as effective use of resources and assumptions underlying budget forecasts.

Performs other related duties as assigned.

KNOWLEDGE, SKILLS AND ABILITIES

Working knowledge of accounting and auditing practices and procedures.

Working knowledge of public utility operations and regulation.

Working 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.)

One year of experience as a Utility Regulatory Auditor I with the Missouri Public Service Commission.

OR

Two years of professional auditing experience, of which one year must have been in a regulatory environment that provides a broad view of regulation, utility operations, cost evaluation and management analysis; and 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. Graduate work in the specified educational areas may be substituted on a year-for-year basis for a maximum of one year of the required general experience.)

(Eff. 3/1/95)