Cal. Pub. Util. Code § 912.1

The Public Utilities Commission shall conduct an audit of the expenditures of the funds received pursuant to Chapter 6 (commencing with Section 5001) of Division 2 each fiscal year. The results of this audit shall be reported in writing, on or before February 15th of each year thereafter, with respect to the audit for the fiscal year ending on the previous June 30th, to the appropriate policy and budget committees of the respective houses of the Legislature.