Audit Exception Sample Clauses
An Audit Exception clause defines the circumstances under which a party may be exempt from certain audit requirements or limitations. Typically, this clause specifies particular records, time periods, or types of information that are not subject to audit, or it may outline exceptions to confidentiality or notice requirements during an audit process. Its core practical function is to balance the auditing party’s need for oversight with the audited party’s need for privacy or operational efficiency, thereby preventing overly broad or intrusive audits.
Audit Exception. The Contractor agrees that it is financially responsible for and will repay the County all indicated amounts following an audit exception that occurs due to the negligence, intentional act and/or failure for any reason to comply with the terms of this Contract by the Contractor, its officers, employees, agents, and/or representatives. This duty to repay shall survive the expiration or termination of this Contract.
Audit Exception. The Grantee agrees that it is financially responsible for and will repay the County all indicated amounts following an audit exception that occurs due to the negligence, intentional act and/or failure for any reason to comply with the terms of this Contract by the Grantee, its officers, employees, agents, and/or representatives. This duty to repay shall survive the expiration or termination of this Contract.
Audit Exception. The Contractor agrees that it is financially responsible for and will repay the County all indicated amounts following an audit exception that occurs due to the negligence, intentional act and/or failure for any reason to comply with the terms of this Contract by the Contractor, its officers, employees, agents, and/or representatives. This duty to repay shall survive the expiration or termination of this Contract for six (6) years after the date of final remittance of the Metro Percentage to the County under the Contract.
Audit Exception. The Contractor agrees that it is financially responsible for and will repay the County all indicated amounts following an audit exception that occurs due to the negligence, intentional act and/or failure for any reason to comply with the terms of this Contract by the Contractor, its officers, employees, agents, and/or representatives. This duty to repay shall survive the expiration or termination of this Contract. If the Contractor expended a total of $750,000.00 or more in federal awards during its fiscal year, and is a non-profit organization, and is, under this Contract, carrying out or administering a program or portion of a program, it shall have an independent audit conducted in accordance with OMB Circular A-133 , which shall comply with the requirements of GAAS (generally accepted auditing standards), GAO’s Government Audit Standards and OMB Circular A-133, as amended and as applicable. Contractors expending federal awards from more than one source shall be responsible for determining if the combined financial awards are equal to or greater than $750,000.00. The Contractor shall provide one copy of the audit report to each County division providing federal awards to the Contractor no later than nine (9) months subsequent to the end of the Contractor’s fiscal year.
Audit Exception. The Company is financially responsible for and shall repay the Municipality all indicated amounts following an audit exception that occurs due to the negligence, intentional act, or failure for any reason to comply with the terms of this Agreement by the Company, its officers, employees, agents, or representatives. This duty to repay survives the expiration or termination of this Agreement. Supplemental Terms and Conditions – ▇▇▇▇▇▇ Fire Equipment Page 1 of 11
Audit Exception the amount determined by the Department that a Provider has been overpaid based on a review of available documentation.