Near the top of the list of every utility manager's responsibilities are to provide more efficient and effective results, more reliable reporting, and enhanced regulatory compliance. With the recent crisis in the financial markets, there has been increased pressure for improved
efficiency and effectiveness of utility operations accompanied by increased scrutiny on the reliability of financial reporting. Governance boards and external auditors are raising expectations for improved performance on internal controls. And, all of this occurs while utilities face increasing
requirements for regulatory compliance, especially those that face consent decrees. The Management Controls Subcommittee of the AWWA Finance, Accounting, and Management Controls Committee recommends that these objectives can be achieved, in part, through application of internal control techniques
used by publicly owned companies.
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