Auditing and Accounting. The Secretary may conduct audits relating to the scope, nature and ex- tent of compliance with the minerals agreement and with applicable regula- tions and orders to lessees, operators, revenue payors, and other persons with rental, royalty, net profit share and other payment requirements arising from the provisions of a minerals agreement. Procedures and standards used for accounting and auditing of minerals agreements will be in accord- ance with audit standards established by the Comptroller General of the United States, in ‘‘Standards for Audit- ing of Governmental Organizations, Programs, Activities, and Functions, 1981,’’ and standards established by the American Institute of Certified Public Accountants.
Auditing and Accounting. The Consultant shall make available to the Cheyenne MPO their accounting records for progress and post-performance audits when deemed necessary by the Cheyenne MPO.
Auditing and Accounting. NHA shall ensure that proper accounts and records are maintained in a timely manner to adequately identify the use of tranche proceeds in such a manner and detail as may be specified in this Loan Agreement and the Project Agreement. Audited financial reports of the NHA shall be submitted to ADB within six months of the end of the fiscal year. Schedule 5
Auditing and Accounting. 23. The Borrower shall cause VEC to (i) maintain separate accounts for the Project;
Auditing and Accounting. Without limiting the generality of the requirements in the legal documents, the Borrower shall ensure that EVN maintains separate accounts for the Investment Program’s expenditures in accordance with sound accounting principles. All accounts for the Investment Program Project, including financial statements, statements of expenditures and account records, will be audited annually as part of the regular audit of accounts and financial statements by an independent auditing firm. Within 6 months of the close of the financial year, the Borrower shall ensure that EVN submits to ADB (i) annual accounts of the Investment Program Project, and (ii) annual financial statements. The annual accounts will contain detailed descriptions of the sources of receipts and expenditures. The annual financial statements will consist of an income statement, balance sheet, statement of cash flows, and for all of EVN’s operations. The annual financial statements will be consolidated for all of EVN’s operations. The consolidated audit reports (in English) will be submitted to ADB in accordance with the requirements and within the deadlines stated in the applicable Loan Agreement. The audit opinion will include (i) a detailed description of the source of funds and expenditures made; (ii) an assessment of the adequacy of accounting and internal controls systems with respect to each project‘s expenditures and other financial transactions, and to ensure safe custody of the assets financed by the Investment Program; (iii) a determination as to whether EVN has maintained adequate documentation for all financial transactions, specifically including the statement of expenditures (SOE); and (iv) confirmation of compliance with the financial covenants set out in the Loan Agreement. Schedule 5
Auditing and Accounting. 29. Within six months of the Effective Date, the Beneficiary shall establish appropriate and adequate financial and accounting control systems that will support the PMU’s ability to apply international accounting standards in connection with the Project. Thereafter, the Beneficiary shall ensure that the PMU applies international accounting standards to the Project. Anti-Corruption
Auditing and Accounting. The Borrower shall cause each of the project- specific executing and implementing agencies to ensure that proper accounts and records are maintained in a timely manner to adequately identify the use of relevant loan proceeds provided under the Investment Program in such a manner and details as may be specified in the relevant legal agreements.
Auditing and Accounting. 14. Greengen shall cause HTICL to ensure and HTICL shall ensure that: (a) proper accounts and records are maintained and audited in time to adequately identify the use of Loan proceeds in accordance with the Loan Agreement and the Project Agreement; and (b) a separate audit opinion is prepared on the SOE procedures and the SGIA.
