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Audit Points Status & Security Assessments Meeting Report

Overview of completed, ongoing, and planned audits, including financial, compliance, and security assessments. Detailed summary of audit progress and future plans presented in the meeting on July 16, 2012.

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Audit Points Status & Security Assessments Meeting Report

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  1. Status of Open Audit Points Michael Petterson Vice President Finance & Treasury Finance &Audit Committee Meeting July 16, 2012

  2. Committee Brief ICMP: Status of Open Audit Points Totals All audit points expected to be complete by 10/31/12 ERCOT Public

  3. Committee Brief: ICMP – Audits Audits Completed (last 3 months) Internal Audits • Congestion Revenue Rights Processes • Annual Report on Fraud Prevention, Monitoring and Testing • Identity Management System • Audit of Shared Drives • Review of Vendors for Compliance with Contract Terms and Conditions • Accounts Payable • Protocol 1.4 – Confidentiality Compliance Audit • Consulting on ERCOT’s Vulnerability Assessments External Audits • 2011 Financial Audit (Ernst & Young, LLP) • DoE Grant OMB A-133 audit (Ernst and Young) • Audits in Progress • Internal Audits • Change Control / Release Management • Cash and Investments • Audit of Critical Spreadsheets • Review of the Capacity, Demand, and Reserves (CDR) Report and the Seasonal Assessment of Resources Adequacy (SARA) Report • Consulting on ERCOT’s Federal Visa and Permanent Residency Program for Foreign Nationals • External Audits • Nodal Program Audit (Navigant Consulting, LLC) • 2012 Type 2 SSAE16 Audit (BrightLine CPAs & Associates, Inc.) • Planned Audits • (next 3 months) • Internal Audits • Business Continuity Plan & Disaster Recovery Plan • Nodal Protocol 3.10(5) – Consistent Information in Operations Models • Credit Quality Assessment • Annual Corporate Controls Testing Summary • Audit of Project Prioritization • Annual Employee and Contractor Ethics Compliance • Audit of Renewable Energy Credits (REC) Program Processes and Controls • External Audits • None ERCOT Public

  4. Committee Brief: ICMP – Security Assessments • Consultation/Analysis Reports Completed • (last 3 months) • Assessments • None • Open Consultation/ Analysis Reviews • (in progress) • Assessments • None • Planned Consultation/ Analysis Reviews • (next 3 months) • Assessments • None ERCOT Public

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