Auditing, Performance and Assurance Services
In today’s rapidly evolving energy landscape, UK energy industry participants are facing immense regulatory and economic pressure to not only reach Net Zero but also navigate the ongoing cost-of-living crisis.
Unprecedented Changes
As the industry undergoes unprecedented changes, it is crucial to have robust, efficient and auditable business procedures in place to ensure compliance and avoid revenue leakage. Navigating the magnitude of change required, combined with mounting regulatory pressures can strain resources and increase the likelihood of regulatory gaps, revenue leakage issues, and missed process improvement opportunities.
Comprehensive Service
Our Auditing and Assurance Services empower our clients to identify and resolve gaps against regulatory requirements, implement process improvement opportunities and prevent revenue leakage. We offer two primary services:
- Regulatory Auditing: Our proven approach delivers audit reporting in a standardised template, in a format acceptable to regulators, while identifying and documenting process efficiency improvements for our clients. Every audit will be conducted by qualified ISO 9001:2015 Quality Management System Lead Auditors.
- Process Optimisation: Leveraging our auditing methodology and deep understanding of industry benchmarks, we present detailed findings reports that illuminate areas of process inefficiency and potential regulatory gaps.
Specific Areas of Expertise
- Environmental Schemes: Ensuring compliance with environmental schemes such as the Warm Home Discount and Feed-in Tariff Annual Levelisation Auditing.
- Regulatory Compliance: Navigating market compliance reviews and complex regulatory landscapes to ensure compliance and avoid penalties.
- Customer Services and Customer Operations: Enhancing customer service processes to reduce customer complaints and improve operational efficiency.
- Balancing and Settlements: Optimising processes related to energy balancing and settlements to improve accuracy and efficiency, including ensuring Market-Wide Half Hourly Settlement readiness.
- Technical Assurance: Providing investment due diligence and market landscape analysis to ensure informed decision-making and strategic planning.
- Debt Optimisation: Identifying and implementing strategies to manage and reduce debt effectively, including policy and procedural reviews of credit policy and Direct Debit (DD) setting and adjustments.
Why Choose Us
- We are qualified ISO:9001 Quality Management Systems Lead Auditors and have consistently applied this methodology to conduct comprehensive process reviews in line with the standard.
- Our team has in depth knowledge of regulatory requirements and have successfully helped clients navigate complex compliance landscapes, avoiding further regulatory investigations.
- We have assisted a wide range of market participants in identifying and resolving process weaknesses that directly impact customers.
- Our work spans various areas, such as electricity and gas imbalance, billing, and collections, where we have helped organisations identify root causes, gaps, and process improvements.
Ready to Discuss Your Audit or Assurance Requirements?
At Engage, we understand that process inefficiencies not only impact your bottom line but also have a detrimental effect on your customers. Our Audit and Assurance Services are designed to help you navigate this complex landscape and ensure your business is operating at its most efficient and compliant level.
Contact us today to learn more about how we can support your organisation in achieving regulatory compliance and driving process optimisation
