01 July 2011Archived News
Audit and verification of your compliance
With a number of key energy and carbon reporting initiatives and programs on the horizon, Energetics is helping clients develop processes to identify associated risks and find solutions to manage those risks. This approach will ultimately give businesses confidence in their data and systems to make key strategic decisions and lower their risk profile.
Conduct a risk based review
An internal review can identify potential risks and provide an opportunity for these to be resolved or managed prior to formal external verifications. It is critical for businesses to adhere to the procedures and guidelines as laid down in the legislation around National Greenhouse and Energy Reporting (NGER), Energy Efficiency Opportunities (EEO), NSW Energy Savings Scheme (ESS) and the Partial Exemption Certificate framework under the Renewable Energy (Electricity) Act.
Accurate, complete and transparent data minimise risk exposure
To minimise risk, robust systems are a requirement to ensure adherence to the principles of comparability, completeness, accuracy and transparency.
Internal verification delivers a robust inventory ready for company sign-off
A detailed or high level review needs to be undertaken to verify complete raw data collection, accurate and compliant methodologies and presence of documentation and audit trails. A review will ensure accuracy and sensibility of key components and outcomes.
Inventory strategy and development
A business strategy and robust inventory development process ensures the right level of engagement from all internal stakeholders. This will further help your organisation manage its risk profile and reduce the stresses associated with reporting.
Dataset design and reporting readiness
The final stage in the various Australian schemes is submission of data through different channels or media. It helps businesses to prepare the data in a consistent manner to facilitate ease of reporting and increase reporting efficiency and accuracy. Accuracy, completeness, transparency, and risk management remain a key focus.
Accurate, streamlined and efficient process
To ensure an accurate, streamlined and efficient process, a range of checklists can be used during the different stages of review and verification. The checklists facilitate the process by focusing on key issues, increasing accuracy and saving time in completing the project. Checklists are also valuable in providing audit reference points.
Assurance Statement provides confidence to the Board
A Board will want to feel confident that the information against which they will be signing off is accurate, complete and minimises future risks for the organisation. An assurance statement on your data and systems prior to submission to the Board and sign-off by a CEO, or equivalent, will give them this confidence. This will provide the key stakeholders with the necessary confidence that their submissions will withstand an external verification and that their risks have been appropriately managed.
Energetics is well positioned to assist companies in this risk mitigation approach.