The IESO received a clean audit in an external audit that examined the Meter Data Management and Repository’s (MDM/R) operations, processes and procedures in accordance with the Canadian Standard on Assurance Engagements for Reporting Controls at a Service Organization, set out in the CICA Handbook – Assurance (“CSAE3416”).

In its report, which covers the April 15, 2012 to October 15, 2012 audit period, PricewaterhouseCoopers LLP provided an unqualified opinion on the controls the IESO has put in place relating to the accurate, complete and timely processing of the MDM/R, and the security over electricity consumption information. The results found that:

• The description presented fairly, in all material respects, the relevant controls that were designed and implemented throughout the audit period;
• The controls were suitably designed to provide reasonable assurance that the specified control objectives would be achieved;
• The controls that were tested operated with sufficient effectiveness to provide reasonable assurance that the control objectives were achieved throughout the audit period.

An independent MDM/R audit is conducted every year to provide reasonable assurance to the MDM/R service recipients and their auditors that the IESO’s internal controls governing the operation of the MDM/R are suitably designed and effectively administered.

This report does not address all aspects of the MDM/R operations. The MDM/R service recipients are responsible to obtain the report and review the scope, coverage and results to assess the extent of use of the report in meeting their needs.

MDM/R service recipients who have questions or would like a copy of the audit report may contact the SME.