Common use of Accounting Control Clause in Contracts

Accounting Control. The Group Companies have maintained internal accounting control, which can provide sufficient assurance of the following matters: 20.1 Conduct of transactions according to general or specific authorization of management authority; 20.2 Permission to the use of properties only according to general or specific authorization of management authority; 20.3 Responsible for reasonable and regular check of assets of book and actual assets and taking reasonable measures for the discrepancy, if any; 20.4 Appropriate separation of auditing and accounting positions; and 20.5 The Group Companies do not share any assets or bank account with any director, officer or employee or use any personal assets or bank account of any director, officer or employee. The existing management information and accounting control system of the Transferor and the Group Companies has been adopted for at least six months, during which the Group Companies have not encountered any difficulties in assuring the above matters. The Transferor and the Group Companies are not aware of (x) any substantive shortcomings of the internal accounting control system or (y) any Material Adverse Effect or potential Material Adverse Effect on the internal financial control system of the Group Companies.