Meeting · FINANCE_AUDIT

Finance and Audit Committee Meeting

Concluded date 2006-12-12 time 09:00–11:00 ercot.com

LocationHilton - Austin Airport 9515 Hotel Dr. Austin, TX 78719

Agenda 22 items

1. Adjourn to Executive Session · 9:00 a.m.
- Significant Audit Findings — B Wullenjohn · 9:00 a.m.
- EthicsPoint Update — C Vance · 9:05 a.m.
- Timing for Quality Assurance Review of the Internal Audit Department — B Wullenjohn · 9:10 a.m.
- Staffing Update and Assessment of the Adequacy and Effectiveness of the Internal Audit Staff — C Karnei · 9:15 a.m.
- Discussion with Executive Management — Jones/Byone · 9:30 a.m.
Reconvene to General Session · 9:40 a.m.
2. Approval of Minutes* (10/17/06) Vote — C Karnei · 9:40 a.m.
3. Review PwC Non Audit Fees ? Accounting Database Subscription (memo) — M Petterson · 9:45 a.m.
4. Materiality Principles (memo) — M Petterson · 9:50 a.m.
5. Review Proposed Agenda for Credit Workshop — C Yager · 9:55 a.m.
6. Accounting Highlights ? Nodal & IMM — M Petterson · 10:00 a.m.
7. Review SAS 70 Action Plan — J Brenton/ A Delenela · 10:15 a.m.
8. Review F&A Self Assessment Results — C Karnei · 10:25 a.m.
9. Review Preliminary 2007 F&A Meeting Planner — S Byone · 10:40 a.m.
10. Committee Briefs · 10:45 a.m.
- ERM
- PMO
- Credit
- ICMP
11. Future Agenda Items — S Byone · 10:55 a.m.
Adjourn · 11:00 a.m.