We're expanding our audit team and I'm looking for a comprehensive checklist of documentation that should be requested for every audit. What are your must-haves beyond the obvious bills and contracts? I want to make sure our new folks don't miss anything critical in those first few months.
Standard documentation checklist for new audit team members?
Bonnie, here's what I always tell new auditors: Get the rate schedule tariff sheets, CT test reports (if applicable), power factor correction records, and any special contract amendments. Also demand profile data for at least 24 months - you'd be amazed how many billing errors show up in the load profiles that aren't obvious from monthly bills.
Lisa's list is solid. I'd add: any utility correspondence files, previous audit reports if available, facility operational schedules (helps explain usage patterns), and meter installation/calibration records. For industrial clients, also grab transformer loss calculations and any power quality incident reports.
Great suggestions everyone. I'd also recommend getting interconnection agreements for any on-site generation, net metering contracts, and demand response program enrollment records. These often have billing implications that get overlooked. Bobby's point about tax exemptions is huge - we found a client was paying franchise fees they were exempt from for 3 years running.
Don't forget tax exemption certificates and any economic development incentive documentation. I've found $50K+ in sales tax overcharges that way. Also get copies of any utility deposit records - sometimes they're earning interest that should be credited to the account.