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Enron Mail |
For your information.
Laura -----Original Message----- From: =09Penman, Gregg =20 Sent:=09Friday, September 14, 2001 9:56 AM To:=09Tomaski, Richard; Simpson, James; Fascetti, Lee; Rodrigue, Robin; Pik= ofsky, Lynn; Kimbrough, Jona Cc:=09Luce, Laura Subject:=09enovate audit As most of you are aware, People's internal audit team, with assistance fro= m an audit consultant specializing in trading operations, has been conducti= ng an audit of enovate business processes, reporting, and general operation= s. The audit has been concluded with the issuance of a formal report to Pe= ople's senior management as well as a PERC/enovate response to their review= . Overall, People's audit team found enovate to be a very well managed ope= ration with proper controls, appropriate separation of duties and adequate = reporting. As noted in their report, "...the enovate team has done an outst= anding job of creating a well-organized and profitable business. We found = that enovate's and Enron's staffs were extremely helpful, knowledgeable and= willing to assist us during the course of the audit." Furthermore, "The a= udit found that the general management of enovate's business processes was = very good, and exceeded that of many entities that had been in business for= several years. Our review of enovate found the trading activity to be wel= l monitored with adequate segregation of duties between the trading, manage= ment and support functions." =20 Everyone deserves credit and should take pride in the overall findings of t= he audit, particularly given the complexity of enovate and our sometimes li= mited resources. Also, thank you for your patience and accommodations of t= he audit team throughout the process. =20 However, like all audits there are certain items which need to be addressed= , clarified or improved. We have set a timeline to address each one of the= findings and provide an appropriate response to the audit team. As such, = a few of you will be requested to provide additional assistance in the near= future. I will be contacting those individuals separately to discuss the = necessary follow up. Thanks - Gregg
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