Section 4 in Chhattisgarh State Electricity Regulatory Commission (Compliance Audit) Regulations, 2011
4. Requirements of Consultant/Auditor.
- Consultants/auditors shall provide professional, objective, and impartial advice and at all times hold the Commission's interests regarding verification of compliance with the Act, Rules, Regulations made thereunder orders and directions issued by the Commission, without any consideration for future work, and that in providing advice they avoid conflicts with other assignments and their work corporate interests. Consultants/auditors shall not be hired for any assignment that would be in conflict with their prior or current obligations to other clients, or that may place them in a position of being unable to carry out the assignment in the best interest of the Commission. Without limitation on the generality of the foregoing, Consultants/auditors shall be engaged keeping in view the circumstances set forth below :(i)A consultant or an auditor engaged for a particular audit must not hold office or have a commercial or any other interest in the regulated entity for a period of Two (2) years preceding the engagement by the Commission.(ii)While conducing an audit, the consultant or auditor would be expected to do so honestly, fairly, professionally, independently objectively and exercise a standard of skill, care and diligence that would be reasonable to expect of a person who is skilled, and who has substantial experience, in the provision of services the same or as similar to those to be provided by the auditor.(iii)The selected consultant or auditor would be required to provide a written declaration to the Commission that he has no conflict of interest while performing the tasks and functions assigned to him under these regulations nor by its nature, may be in conflict with another assignment of the consultant or auditor.
