Common use of Accounting Issues Clause in Contracts

Accounting Issues. It is the duty of the South university and Danish partner programme management to establish and maintain a reliable accounting set up for the programme funds. This implies preparation of an adequate chart of accounts, and ensuring that accounts are kept up to date. All accounting material shall be available to DFC and South university in case of audits. It is the responsibility of the South university to comply with the accounts requirements, hereunder ensuring an accounting manual, is in place as early as possible after the finalization of the Inception Report, and at the latest before the second disbursement to the South university. The manual must be updated yearly based on recommendations from the annual audit. The Danish partner must submit to the South university the bi-annual accounts of the Danish partner expenditures signed by the Danish BSU coordinator and Danish partner responsible accounting officer no later than March 1 and September 1.

Accounting Issues. It is the duty of the South university and universityand Danish partner programme partnerprogramme management to establish and maintain a reliable accounting set up for the programme funds. This implies preparation of an adequate chart of accounts, and ensuring that accounts are kept up to date. All accounting material shall be available to DFC and South university in universityin case of audits. It is the responsibility of the South university to universityto comply with the accounts requirements, hereunder ensuring an accounting manual, is in place as early as possible after the finalization of the Inception Report, and at the latest before the second disbursement to the South university. The manual must be updated yearly based on recommendations from the annual audit. The Danish partner must partnermust submit to the South university the universitythe bi-annual accounts of the Danish partner expenditures signed partnerexpendituressigned by the Danish BSU coordinator and Danish partner responsible partnerresponsible accounting officer no officerno later than March thanApril 1 and September October 1.