Glossary Term: BSC Audit Report
There are three types of BSC Audit reports: Annual BSC Audit Report; Funding Shares Audit Reports; and Market Issue Documents. Audit work is set between November to the end of March each year and the BSC Audit Report is published in June each year.
BSC defined definition
Unless otherwise established by the Panel, the results of the BSC Audit to be carried out by the BSC Auditor will be reported twice a year, with the delivery of an interim report in October, and the delivery of an opinion in April (each a “BSC Audit Report”); has the meaning given to that term in Section H5.4.1;
The BSC Auditor shall be appointed in order to undertake, subject to paragraph 5.1.6, an operational audit in relation to each BSC Year (the “Audit Year”), or such other period of time as the Panel may determine, on behalf of Parties (the “BSC Audit”) and such other ad hoc operational audits as the Panel may direct from time to time.