Best Practices for Energy Price Indices © Copyright 2003, CCRO. All rights reserved. 15 The data is properly collected and stored in compliance with all contractual arrangements with data providers, including confidentiality arrangements. Specifically, the data is properly protected from release and misuse at all levels. The methodology established and published by the index developer is the same as that used to calculate and publish the actual index. The methodology established and published by the index developer satisfies the attribute of robustness as defined by the index developer in accordance with the principles in this white paper. Periodic tests are conducted to verify the process used to derive published indices is accurate, objective, and reliable. A qualified individual, i.e., Certified Public Accountant or Certified Internal Auditor, should certify the results of these audits and the pass/fail result of the audits should be made available to data providers and index users upon request. In the event of a failed audit, the index developer should be able to reaudit once appropriate changes are made.
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