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(220 ILCS 5/8-102) (from Ch. 111 2/3, par. 8-102)
Sec. 8-102.
Audit or investigation.
The Commission is authorized to
conduct or order a management audit or investigation of any public utility or
part thereof. The audit or investigation may examine the
reasonableness, prudence, or efficiency of any aspect of the
utility's operations, costs, management, decisions or functions that may affect the adequacy, safety, efficiency or reliability of utility
service or the reasonableness or prudence of the costs
underlying rates or charges for utility service. The Commission may conduct or
order a management audit or investigation only when it has reasonable grounds
to believe that the audit or investigation is necessary to assure
that the utility is providing adequate, efficient, reliable, safe,
and least-cost service and charging only just and reasonable rates
therefor, or that the audit or investigation is likely to be
cost-beneficial in enhancing the quality of service or the
reasonableness of rates therefor. The Commission shall, before initiating
any such audit or investigation, issue an order describing the grounds for
the audit or investigation and the appropriate scope and nature of
the audit or investigation. The scope and nature of any such
audit or investigation shall be reasonably related to the grounds relied upon
by the Commission in its order.
Any audit or investigation authorized pursuant to this Section may be
conducted by the Commission, or if the Commission is unable to adequately
perform the audit or investigation, the Commission may arrange for
it to be conducted by persons independent of the utility and selected by the
Commission. The cost of an independent audit shall be borne initially
by the utility, but shall be recovered as an expense through normal
ratemaking procedures. Any audit or investigation shall be conducted in
accordance with generally accepted auditing standards.
(Source: P.A. 90-655, eff. 7-30-98.)
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