Goto Section: 65.903 | 65.905 | Table of Contents

FCC 65.904
Revised as of October 1, 2009
Goto Year:2008 | 2010
  §  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 § 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 § § 32.23 and 32.27 of this chapter, and § 64.901, and
   § 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 § 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 § § 32.23 and
   32.27 of this chapter, and § 64.901, and § 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 § 43.21(e)(2) of this chapter.

   [ 67 FR 5702 , Feb. 6, 2002, as amended at  67 FR 13229 , Mar. 21, 2002]


Goto Section: 65.903 | 65.905

Goto Year: 2008 | 2010
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