[Code of Federal Regulations]
[Title 18, Volume 1]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 18CFR41.10]

[Page 307]
 
           TITLE 18--CONSERVATION OF POWER AND WATER RESOURCES
 
  CHAPTER I--FEDERAL ENERGY REGULATORY COMMISSION, DEPARTMENT OF ENERGY
 
PART 41_ACCOUNTS, RECORDS, AND MEMORANDA--Table of Contents
 
Sec. 41.10  Examination of accounts.

    (a) All Major and Nonmajor public utilities and licensees not 
classified as Class C or Class D prior to January 1, 1984 shall secure, 
for the year 1968 and each year thereafter until December 31, 1975, the 
services of an independent certified public accountant, or independent 
licensed public accountant, certified or licensed by a regulatory 
authority of a State or other political subdivision of the United 
States, to test compliance in all material respects of those schedules 
as are indicated in the General Instructions set out in the Annual 
Report, Form No. 1, with the Commission's applicable Uniform System of 
Accounts and published accounting releases. The Commission expects that 
identification of questionable matters by the independent accountant 
will facilitate their early resolution and that the independent 
accountant will seek advisory rulings by the Commission on such items. 
This examination shall be deemed supplementary to periodic Commission 
examinations of compliance.
    (b) Beginning January 1, 1976, and each year thereafter, only 
independent certified public accountants, or independent licensed public 
accountants who were licensed on or before December 31, 1970, will be 
authorized to conduct annual audits and to certify to compliance in all 
material respects, of those schedules as are indicated in the General 
Instructions set out in the Annual Report, Form No. 1, with the 
Commission's applicable Uniform System of Accounts, published accounting 
releases and all other regulatory matters.

[Order 462, 37 FR 26005, Dec. 7, 1972, as amended by Order 390, 49 FR 
32505, Aug. 14, 1984]