Internal controls are the rules and mechanisms established by an entity to ensure their compliance obligations are being met. In recent years, NERC and regional entities have placed an emphasis on reviewing an entity’s internal controls. Internal controls do not need to be so complicated that you need a full-time person managing them. PCS can create policies and procedures that contain internal controls as a natural part of your process. Or, PCS can take your existing program and help identify and develop internal controls for your organization.
As noted by NERC, effective controls provide value and help registered entities with the following:
Benefits
Internal controls are policies and procedures designed to ensure a registered entity meets its NERC compliance obligations, reduces risks, and maintains system reliability.
Effective internal controls help identify and mitigate risks, improve security, and reduce audit burdens by shifting from periodic reviews to continuous monitoring.
Yes! PCS can create new internal controls or enhance your existing program, ensuring they are practical, efficient, and aligned with compliance standards.
Strong internal controls help inform the Compliance Enforcement Authority’s development of your entity’s Compliance Oversight Plan, improving oversight and reducing enforcement risks.
Documented controls show regulators that you’re actively monitoring processes, provide assurance that risks are being managed, and help prevent issues from slipping through unnoticed.
