Common use of Annual Procurement Audits Clause in Contracts

Annual Procurement Audits. The Recipient, through MSD, shall: not later than January 30 of each year during the implementation of the Project, beginning on January 30, 2009, contract independent auditors with experience and qualifications satisfactory to the Association, operating under terms of reference satisfactory to the Association, to perform a procurement audit of all the procurement records and documentation for the Project, relating to the Recipient’s previous fiscal year of implementation of the Project, in accordance with procurement auditing principles acceptable to the Association (“Procurement Audit”); not later than March 31 of each year during the implementation of the Project, beginning on March 31, 2009 and continuing for each year thereafter during the implementation of the Project, furnish to the Association the report, in form and substance satisfactory to the Association, on the Procurement Audit completed for the Recipient’s prior fiscal year; at all times during the implementation of the Project, furnish to the Association and to the auditors performing a Procurement Audit, such other information concerning the procurement records and documentation for the Project as the Association or the auditors may from time to time reasonably request; and not later than April 30 of each year during the implementation of the Project, beginning on April 30, 2009, exchange views with the Association on the results of the Procurement Audit completed for the Recipient’s prior fiscal year and thereafter implement such recommended measures, taking into account the Association’s views on the matter.

Annual Procurement Audits. The Recipient, through MSDMP and VMD, shallshall or shall cause FSP to: not later than January 30 August 31 of each year during the implementation of the Project, beginning on January 30August 31, 2009, contract independent auditors with experience and qualifications satisfactory to the Association, operating under terms of reference satisfactory to the Association, to perform a procurement audit of all the procurement records and documentation for the Project, relating to the Recipient’s previous fiscal year of implementation of the Project, in accordance with procurement auditing principles acceptable to the Association (“Procurement Audit”); not later than March 31 December 15 of each year during the implementation of the Project, beginning on March 31December 15, 2009 and continuing for each year thereafter during the implementation of the Project, furnish to the Association the report, in form and substance satisfactory to the Association, on the Procurement Audit completed for the Recipient’s prior fiscal year; at all times during the implementation of the Project, furnish to the Association and to the auditors performing a Procurement Audit, such other information concerning the procurement records and documentation for the Project as the Association or the auditors may from time to time reasonably request; and not later than April 30 January 31 of each year during the implementation of the Project, beginning on April 30January 31, 20092010, exchange views with the Association on the results of the Procurement Audit completed for the Recipient’s prior fiscal year and thereafter implement such recommended measures, taking into account the Association’s views on the matter.

Annual Procurement Audits. The Recipient, through MSD, shallRecipient shall cause each Project Implementing Entity: not later than January November 30 of each year during the implementation of the Project, beginning on January November 30, 20092007 and continuing for each year thereafter during the implementation of the Project, to contract independent auditors with of experience and qualifications satisfactory to the Association, Association operating under terms of reference satisfactory to the Association, Association to perform a procurement audit of all the procurement records and documentation for the Project, Project Implementing Entity’s Respective Part of the Project relating to the Recipient’s previous fiscal year of implementation of the Project, Project in accordance with procurement auditing principles acceptable to the Association (“Procurement Audit”); not later than March 31 April 30 of each year during the implementation of the Project, beginning on March 31April 30, 2009 2008 and continuing for each year thereafter during the implementation of the Project, to furnish to the Association the report, in form and substance satisfactory to the Association, on the Procurement Audit completed for the Recipient’s prior fiscal year; at all times during the implementation of the Project, to furnish to the Association and to the auditors performing a Procurement Audit, Audit such other information concerning the procurement records and documentation for the Project Implementing Entity’s Respective Part of the Project as the Association or the auditors may from time to time reasonably request; and not later than April May 30 of each year during the implementation of the Project, beginning on April May 30, 20092008 and continuing for each year thereafter during the implementation of the Project, to exchange views with the Association on the results of the Procurement Audit completed for the Recipient’s prior fiscal year and thereafter implement such recommended measures, taking into account the Association’s views on the matter.

Annual Procurement Audits. The Recipient, through MSDVPPTA, shall: not later than January 30 August 31 of each year during the implementation of the Project, beginning on January 30August 31, 2009, contract independent auditors with experience and qualifications satisfactory to the Association, operating under terms of reference satisfactory to the Association, to perform a procurement audit of all the procurement records and documentation for the Project, relating to the Recipient’s previous fiscal year of implementation of the Project, in accordance with procurement auditing principles acceptable to the Association (“Procurement Audit”); not later than March December 31 of each year during the implementation of the Project, beginning on March December 31, 2009 and continuing for each year thereafter during the implementation of the Project, furnish to the Association the report, in form and substance satisfactory to the Association, on the Procurement Audit completed for the Recipient’s prior fiscal year; at all times during the implementation of the Project, furnish to the Association and to the auditors performing a Procurement Audit, Audit such other information concerning the procurement records and documentation for the Project as the Association or the auditors may from time to time reasonably request; and not later than April 30 January 31 of each year during the implementation of the Project, beginning on April 30January 31, 20092010, exchange views with the Association on the results of the Procurement Audit completed for the Recipient’s prior fiscal year and thereafter implement such recommended measures, taking into account the Association’s views on the matter.