Audit Purpose Clause Samples
The Audit Purpose clause defines the specific reasons and objectives for which an audit may be conducted under an agreement. It typically outlines the scope of permissible audits, such as verifying compliance with contractual terms, accuracy of financial records, or proper use of licensed materials. By clearly stating the intended purpose, this clause helps prevent misuse of audit rights and ensures that audits are only performed for legitimate, agreed-upon reasons, thereby protecting both parties from unnecessary disruption or overreach.
Audit Purpose. 1.1 The purpose of this document is to provide guidance on how a market data audit will be conducted. Audits are used to verify compliance with contractual obligations and policies. In particular, the audit examines whether the correct remuneration has been paid to the London Stock Exchange Group, aims to identify potential sources of errors and recommend solutions to reduce any future errors occurring. This involves the verification and assessment of the controls surrounding the release of Data at client sites.
Audit Purpose. 1.1 The purpose of this schedule is to provide guidance on how a market data audit will be conducted. Audits are used to verify compliance with contractual obligations and policies. In particular, the audit examines whether the correct remuneration has been paid to the Group, aims to identify potential sources of errors and recommend solutions to reduce any future errors occurring. This involves the verification and assessment of the controls surrounding the release of Data at client sites.
Audit Purpose. At any time during the performance of a specific readiness and response activity under this OA, and up to 12 months from the completion of the specific activity thereafter, any Party may upon written notice to any other Party, at its own cost seek to obtain assurance by requesting that it:
(a) Audit or obtain an audit of any aspect of the other Party’s compliance with this OA, or with the clauses of any funding agreement for this OA and/or any elements of the other Party’s financial administration of such funding agreement.
(b) Evaluate any agreed elements of the process steps and activities which contribute to the delivery of the agreed outputs for the specific activities for an OA (those activities directed and agreed under relevant schedules including
Audit Purpose. The purpose of this document is to provide guidance on how a market data audit will be conducted. Audits are used to verify compliance with contractual obligations and policies. In particular, the audit examines whether the correct remuneration has been paid. Borsa Italiana aims to identify potential sources of errors and recommend solutions to reduce any future errors occurring. This involves the verification and assessment of the controls surrounding the release of Data at client sites. The BIT Verifier may examine all means of communication, systems, Devices and applications that use and/or redistribute Data, in addition to the procedures, processes and systems, such as entitlement systems, that control the release of and/or provision of access to the Data solely for the purpose of verifying compliance with this Agreement.
Audit Purpose. At any time during the performance of this OA, and for up to seven years thereafter, the Party(s) may upon written notice to the other Party(s), at their own cost seek to obtain assurance by:
(a) Auditing any aspect of either Party’s compliance with the clauses of any funding agreement for this OA and/or any elements of either Party’s financial administration of such funding agreement.
(b) Evaluating any agreed elements of the process steps and activities which contribute to the delivery of the agreed outputs for the specific activities for an operational agreement (those activities directed and agreed under relevant schedules including Schedule I: Readiness work and work plans; Schedule J: Training and education; Schedule L: Market access recovery); Schedule M: Response strategy and related plans.