advisories & notices

The PEM Audit Committee (PAC) would like to inform all WESM Members and other interested parties that it has engaged the services of RSM Australia Pty Ltd with support from Market Reform, TechSafe Australia and Reyes Tacandong & Co. to conduct the Joint 7th Market Operations Audit and 4th Review of Metering Installations and Arrangements (RMIA). 

As provided in the Terms of Reference, this joint audit/review shall cover market operations, metering activities and transactions, market monitoring and assessment for the period 26 June 2016 to 25 December 2019, as applicable. The parties to be audited/reviewed are as follows: 

1. Market Operator/Central Registration Body (CRB) for WESM operations and RCOA; 
2. PEMC for market monitoring and assessment, compliance monitoring and Market Operator performance monitoring; and
3. All Metering Services Providers (MSPs) and the Market Operator/CRB for the RMIA 

The project implementation has been delayed due to the restrictions brought by the current COVID-19 pandemic. To commence the project, the PAC will schedule in May 2020 the conduct of the following activities through appropriate media: 

1. PAC coordination meetings with the External Auditor;
2. External Auditor consultation meetings with parties to be audited/reviewed; and
3. PAC and External Auditor coordination meetings with other stakeholders such as DOE and ERC. 

The foregoing activities are essential in the preparation by the External Auditor of an Inception Report which shall confirm audit scope and provide in details the audit approach/ methodology, including the audit process, work schedule, deliverables and proposed interaction during the duration of the audit project taking into consideration, among others, the continuing restrictions due to COVID-19 pandemic.  

The PAC will keep the industry stakeholders, particularly the parties to be audited/reviewed, updated on the forthcoming activities. 

Should you have further inquiries, please contact Mr. Arjon B. Valencia of PEMC-Market Assessment Group (MAG) thru abvalencia@wesm.ph and/or mag@wesm.ph.

Thank you.