(a) In this chapter, the following words have the meanings indicated:

(b) “Audit Follow-Up Official” or “AFO” means the person that oversees and reports on the status of audit reports and the corrective actions taken on behalf of WSSC management.

(c) “Audit” means the systematic and documented process of independently inspecting and examining financial statements, information, documents, processes, and internal controls to objectively evaluate and determine effectiveness, performance, and compliance with laws, regulations, and established standards, including those authorized under the Public Utilities Article, Title 17, Annotated Code of Maryland.

(d) “Audit dispute reconciliation process” means the process for resolution of disputed audit findings and recommendations for corrective action established in this chapter.

(e) “Auditee” means the WSSC entity subject of the audit.

(f) “Auditor” means an individual who conducts an audit pursuant to professional auditing standards and may provide an audit report.

(g) “Audit report” means the Auditor’s written opinions, findings, or recommendations after conducting an audit and attesting to whether the financial statement, process, or internal control adheres to applicable laws, regulations, procedures, or standards.

(h) “Corrective action” means the measures taken to implement resolved audit findings and recommendations.

(i) “Management Action Official” or “MAO” means the person responsible for responding to the audit report findings and implementing or ensuring the completion of agreed-upon corrective action.

(j) “Office of the Inspector General” or “OIG” is the WSSC department that independently conducts audits and investigations of Commission programs and operations as authorized in Public Utilities Article, § 17-604, Annotated Code of Maryland.

(k) “Resolution” means the point at which the Audit Committee or Commission determines the matter to be resolved when the Auditor and WSSC management disagree on actions to be taken on reported findings or recommendations. (Res. 2023-2348)