Appointment of Compliance Auditor. The Board shall select an accounting firm (such firm selected, the “Compliance Auditor”) to serve as the independent compliance auditor of the Corporate Manager and TRANSLink. The Corporate Manager may require the Compliance Auditor to resign if the Board determines in good faith that (a) the cost of the Compliance Auditor is unreasonable for the services provided and in comparison with the cost of similar services provided to others; (b) the functions of the Compliance Auditor are no longer required by the applicable rules, regulations and policies of FERC; or (c) the Compliance Auditor fails to meet the independence requirements provided for in this Section 6.1 or other standards required by FERC for compliance auditors under Order No. 2000. The Corporate Manager shall publish on its website, if any, and on any host RTO’s OASIS notice of such required resignation thirty (30) days in advance of its proposed effective date and the resignation shall become effective after such thirty (30) day period unless FERC shall object to such effectiveness. In the event that FERC shall object to the resignation, such resignation shall not become effective until either (y) it is approved, or (z) FERC determines that it shall not object by either issuing an order to that effect or by appropriate delegated action by its staff. In the event of any vacancy in the position of Compliance Auditor, whether caused by resignation or otherwise, a replacement Compliance Auditor shall be selected by the Board. Notice of these procedures shall be given to FERC and published on TRANSLink’s website, if any, and on any host RTO’s OASIS twenty (20) days in advance of the commencement of the selection procedures. The Compliance Auditor selected pursuant to these procedures shall comply with the independence standards provided for in this Section 6.1.
Appointment of Compliance Auditor
