If you report testing to any regulatory authority ( including USP ), you are required to use standards that match their requirements, and are approved by them.
If the monograph say use USP reference standard, you have to use it, if it says you can use a compendial product as a standard, then you can use that instead - but not many monographs do..
I was under the impression that a US firm had recently set up to also provide certified USP standards, but I can't recall the details. I doubt they will be much cheaper, but I could be wrong. I doubt the USP would be the best place to find out about other USP standard providers, maybe a Google search?.
Whilst it's possible to produce/procure standards that might be equivalent, they would still have to be approved by the authority ( the EP lists alternative suppliers for their standards ) and most users will find the minimum energy path is to pay for the standards from the authority. An auditor would become very focused on novel stardards.
There are perceived, and real, issues about standard stability and traceability, hence the long-standing USP monopoly, and short expoiry times. Note that expiry times of batches may be developed as the stability programme continues, hence the CoA expiry issues, and the habit of saying which Lot number is currently valid.
What is irritating is the failure to standardise impurity codes between JP, USP, EP, so users could purchase the standards from other regulatory entities.
Please keep having fun,
Bruce Hamilton