Goto Section: 64.903 | 64.905 | Table of Contents
FCC 64.904
Revised as of October 1, 2006
Goto Year:2005 |
2007
Sec. 64.904 Independent audits.
(a) Each carrier required to file a cost allocation manual shall elect to
either have an attest engagement performed by an independent auditor every
two years, covering the prior two year period, or have a financial audit
performed by an independent auditor every two years, covering the prior two
year period. In either case, the initial engagement shall be performed in
the calendar year after the carrier is first required to file a cost
allocation manual.
(b) The attest engagement shall be an examination engagement and shall
provide a written communication that expresses an opinion that the systems,
processes, and procedures applied by the carrier to generate the results
reported pursuant to Sec. 43.21(e)(2) of this chapter comply with the
Commission's Joint Cost Orders issued in conjunction with CC Docket No.
86–111, the Commission's Accounting Safeguards proceeding in CC Docket No.
96–150, and the Commission's rules and regulations including Sec. Sec. 32.23 and
32.27 of this chapter, and Sec. 64.901, and Sec. 64.903 in force as of the date of
the auditor's report. At least 30 days prior to beginning the attestation
engagement, the independent auditors shall provide the Commission with the
audit program. The attest engagement shall be conducted in accordance with
the attestation standards established by the American Institute of Certified
Public Accountants, except as otherwise directed by the Chief, Enforcement
Bureau.
(c) The biennial financial audit shall provide a positive opinion on whether
the applicable date shown in the carrier's annual report required by
Sec. 43.21(e)(2) of this chapter present fairly, in all material respects, the
information of the Commission's Joint Cost Orders issued in conjunction with
CC Docket No. 86–111, the Commission's Accounting Safeguards proceeding in
CC Docket No. 96–150, and the Commission's rules and regulations including
Sec. Sec. 32.23 and 32.27 of this chapter, and Sec. 64.901, and Sec. 64.903 in force as of
the date of the auditor's report. The audit shall be conducted in accordance
with generally accepted auditing standards, except as otherwise directed by
the Chief, Enforcement Bureau. The report of the independent auditor shall
be filed at the time that the carrier files the annual reports required by
Sec. 43.21(e)(2) of this chapter.
[ 67 FR 5702 , Feb. 6, 2002, as amended at 67 FR 13229 , Mar. 21, 2002]
Goto Section: 64.903 | 64.905
Goto Year: 2005 |
2007
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