Common use of Accounting and Audits Clause in Contracts

Accounting and Audits. 28.1 Licensee shall be responsible for maintaining complete accounts, books and records reflecting all revenues, costs and expenses associated with Petroleum Operations under this Agreement in accordance with the Accounting Procedure set out in Annex "C* of this Agreement and accepted international petroleum industry accounting standards and procedures. The said accounting records shall be kept in Uganda in US Dollars and in Uganda Shillings.

Accounting and Audits. 28.1 Licensee shall be responsible for maintaining maintaining, in original, complete accounts, books and records reflecting all revenues, costs and expenses associated with Petroleum Operations Activities under this Agreement in accordance with the Accounting Procedure set out in Annex "C* B" of this Agreement Agreement, International Financial Reporting Standards (IFRS) and accepted international petroleum industry accounting standards and proceduresBest Petroleum Industry Practices. The said accounting records shall be kept at an office in Uganda in US Dollars USD and in Uganda ShillingsShillings and in case of inconsistencies, the accounts maintained in USD shall prevail.

Accounting and Audits. 28.1 31.1 Licensee shall be responsible for maintaining complete accounts, books and records reflecting all revenues, costs and expenses associated with Petroleum Operations under this Agreement in accordance with the Accounting Procedure set out in our Annex "“C* ” of this Agreement and accepted international petroleum industry accounting standards and procedures. The said accounting records shall be kept in Uganda in US Dollars and in Uganda Shillings.