The FCC should reconsider its requirement that privately held rate-of-return...
The FCC should reconsider its requirement that privately held rate-of-return regulated carriers submit for public review annual reports of financial condition that have been audited and certified by an independent certified public accountant, the National Telecommunications Cooperative Association said in…
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a letter to the commission Tuesday (http://xrl.us/bmzp2y). The requirement is “overly burdensome,” treats rural LECs inequitably compared to other USF recipients, and is “unnecessary,” the group wrote, arguing it is neither reasonably tailored nor appropriately balanced to “achieve the objective of accountability.” NTCA made three counterproposals: permit RLECs to submit a financial reporting form similar to that required by the Rural Utilities Service; allow RLECs to prepare the form through a compilation process rather than the “costly and burdensome” process of having a financial report audited and certified by a CPA; and allow RLECs to submit financial data “under seal pursuant to the established protective order process."