Independent Monitors are third-party infrastructure or energy experts that often review all aspects of a megaproject confirming that implementation of the project is being and has been performed in a reasonable and prudent manner. Independent Monitors are traditionally hired with a mandate from a governmental body, such as a state public utilities commission or governor’s office, to monitor and report on broad or specific aspects of the project, including among other things:
- Assessing project management and controls;
- Assessing project progress and cost performance;
- Reviewing project delivery methods, agreements, and contracts;
- Evaluating environmental aspects of a project;
- Monitoring project costs and reporting;
- Monitoring project schedule; and,
- Monitoring project risks.
Pegasus Global Holdings, Inc.® conducts all of its Independent Monitoring and Audit Services in accordance with Generally Accepted Government Auditing Standards (GAGAS) (the Yellow Book Guidelines), examining the economy, efficiency and effectiveness of the policies, management, fiscal affairs and operations of state and local governments, as well as state agencies, regulated utilities and private companies. Pegasus-Global also maintains an internal Total Quality Management (TQM) Manual, under which our team operates. At the completion of every engagement, the Engagement Director sends a questionnaire to the Client for Feedback on the work performed by Pegasus-Global, to ensure our audit conforms to our internal controls and that we maintain "best in class" standards. Additionally, prior to each engagement, lessons learned from previous engagements are taken into consideration so that Pegasus-Global continues to advance the quality of its auditing and independent monitoring practice.
Pegasus-Global is an experienced provider of independent monitoring services to public utilities in the infrastructure and energy sectors. Our experience in the utility industry is vast, spanning over 40+ years, with extensive performance/prudence audits for various industries over the last 30 years. This experience and familiarity with the utility industry will also prove most useful in any subsequent rate proceedings. Pegasus-Global understands that the utility industry is unique in this regard, and we believe our combination of commercial and utility industry experience sets us apart from all other competitors. The firm's independent monitoring services cover a variety of industries and client objectives, such as assessing program effectiveness and results; economies and efficiencies, internal controls; compliance with legal and/or other regulatory requirements; and providing prospective analyses, guidance and/or summary information.