CT HB07106

Each public service company must have an annual comprehensive audit by independent public accountants and file the report with the Public Utilities Regulatory Authority (PURA) along with its annual report.

PURA may waive audit requirements for public service companies with annual gross income below $100,000.

If a company fails to file an audit report or files an insufficient one, PURA shall conduct an audit at the company's expense.

Telephone companies may elect to file the parent company's SEC Form 10-K with PURA instead of a separate audit, provided it includes independently audited financial statements.

Telephone companies serving more than 75,000 customers must also file unaudited financial statements specific to Connecticut operations.