The main function of the Financial Regulation Area is to analyze and evaluate the Concessionaires’ financial accuracy.
It conducts the regular, independent financial audit of the activities of the Concessionaires and monitors the submission of audited financial statements.
There are two departments in FRA: Financial Audit and Asset Monitoring Department (FAAMD) and Tariff Control and Monitoring Department (TCMD).
FAAMD’s primary function is to analyze and evaluate the Concessionaires’ financial information, cost allocation and other pertinent accounting practices, while the TCMD is responsible for the determination and calculation of Extraordinary Price Adjustment (EPA) and rate rebasing/ adjustments provisions. It also tasked to review and monitor standard rates as well as the Concessionaires’ Appropriate Discount Rates.