Auditing Requirements Sample Clauses
The Auditing Requirements clause establishes the right of one party to review and examine the records, processes, or operations of another party to ensure compliance with the terms of the agreement. Typically, this clause outlines the scope of audits, the notice period required before an audit, and the frequency or limitations on such reviews. For example, it may allow a company to inspect a vendor’s financial records to verify accurate billing or adherence to contractual obligations. The core function of this clause is to promote transparency and accountability, helping to detect errors, prevent fraud, and ensure that both parties are fulfilling their contractual responsibilities.
Auditing Requirements. 1. The Grantee shall provide an independent financial compliance audit of funds received from the Department under the Contract, for the following grants: 2014-2015 biennium to include the State Financial Assistance Grant (A) and individual grants B, C, D, E, M, N, P, S, T, and W; 2016-2017 biennium to include the State Aid Grant and Targeted Grants B, D, E, M, P, S, T, and W.
2. The audit shall be prepared in accordance with generally accepted auditing standards, governmental auditing standards, and the Department’s audit requirements that will be sent under separate cover by September 30 for each year of the biennium.
3. The Grantee shall submit, in a format prescribed by the department, a given fiscal year's audit to the Department no later than March 1 of the subsequent year.
4. The audit shall include as part of the Report on Compliance and Internal Control, the specific financial assurances contained in Section VIII (G) of the General Grant Requirements and any Targeted Grant requirements. The audit shall include an opinion on whether or not the Grantee complied with the applicable assurances. A summary of all material instances of non-compliance and an identification of the total amount of funds in question for each assurance shall be included in the audit.
5. Audits received after March 1 of the subsequent year are considered delinquent. Grantees with delinquent audits are subject to a Non-Compliance Citation Report (NCCR) and funds may be suspended by the Department.
Auditing Requirements. 1. Grantee shall provide an independent financial compliance audit of funds received from TJJD under the Contract each fiscal year. The audit shall cover the State Aid Formula Fund Grant and all targeted grant(s) received by Grantee for the prior fiscal year.
2. TJJD may waive this requirement by written notification to Grantee.
3. The audit shall be prepared in accordance with generally accepted auditing standards, governmental auditing standards, and TJJD’s audit requirements, which will be sent under separate cover by September 30 of each year.
4. Grantee shall submit to TJJD, in a format prescribed by ▇▇▇▇, a given fiscal year's audit no later than March 1 of the subsequent year.
Auditing Requirements. 1. Grantee shall provide an independent financial compliance audit of funds received from TJJD under the Contract, for the following grants: 2018-2019 biennium to include the State Aid Grant and Targeted Grants B, D, M, P, R, S, T, and W; 2020-2021 biennium to include the State Aid Grant and Targeted Grants B, D, M, P, R, S, T, and ▇. ▇▇▇▇ may waive this requirement by written notification to Grantee.
2. The audit shall be prepared in accordance with generally accepted auditing standards, governmental auditing standards, and TJJD’s audit requirements, which will be sent under separate cover by September 30 of each year.
3. Grantee shall submit to TJJD, in a format prescribed by ▇▇▇▇, a given fiscal year's audit no later than March 1 of the subsequent year.
4. The audit shall include, as part of the Report on Compliance and Internal Control, the specific financial assurances contained in Section VIII.G. of the General Grant Requirements and any Targeted Grant requirements. The audit shall include an opinion on whether or not Grantee complied with the applicable assurances. A summary of all material instances of non-compliance and an identification of the total amount of funds in question for each assurance shall be included in the audit.
5. Audits received after March 1 of the subsequent year are considered delinquent. Grantees with delinquent audits are subject to an NCCR and the suspension of the disbursement of funds by ▇▇▇▇.
Auditing Requirements. It is agreed that Contractor shall maintain and make available for inspection, audit and/or reproduction by any authorized representative of the City or any other governmental agency, books, documents, and other evidence pertinent to the costs and expenses of this contract. This includes, to the extent such detail will properly reflect all cost: direct and indirect costs of labor, material, equipment, supplies, and services and all other costs and expenses of whatever nature for which reimbursement is claimed under provisions of this contract.
Auditing Requirements. The EHR system shall be required to have the ability to record audit trails for all transactions, permissions and requests. These audit trails shall be recorded in a log that cannot be altered. Changes in a submitted transaction must be made by retaining the old transaction, making the changes including a time/date/user stamp and a reason for that change. This information will be recorded in the audit trail and/or transactions log.
Auditing Requirements. The Grantee shall provide an independent financial compliance audit of funds received from the Commission under the State Financial Assistance Contract, specifically for the following grants: Fiscal Year 2011 to include grants A, B, C, D, E, F, H, M, O, P, U, V, W, X, Y and Z and the 2012-2013 biennium to include the State Financial Assistance Fund (A) and individual grants B, C, D, E, M, P and W. The audit shall be prepared in accordance with Generally Accepted Auditing Standards, Governmental Auditing Standards and the Commission’s audit requirements that will be sent under separate cover by September 30 for each year of the biennium. The Grantee shall submit two
Auditing Requirements. MFA shall have the right to audit reimbursement requests and all disbursements before and after payment to the Service Provider. Payment under this Agreement shall not negate MFA’s rights to recover excessive or illegal payments or payments made for ineligible activities.
Auditing Requirements. Grantee shall provide an independent financial compliance audit of funds received from TJJD under the Contract, for the following grants: 2018-2019 biennium to include the State Aid Grant and Targeted Grants B, D, M, P, R, S, T, and W; 2020-2021 biennium to include the State Aid Grant and Targeted Grants B, D, M, P, R, S, T, and ▇. ▇▇▇▇ may waive this requirement by written notification to Grantee.
Auditing Requirements. 1. The Grantee shall provide an independent financial compliance audit of funds received from the Department under the Contract, for the following grants: 2016-2017 biennium to include the State Aid Grant and Targeted Grants B, D, M, P, R, S, T, and W; 2018-2019 biennium to include the State Aid Grant and Targeted Grants B, D, M, P, R, S, T, and W.
2. The audit shall be prepared in accordance with generally accepted auditing standards, governmental auditing standards, and the Department’s audit requirements that will be sent under separate cover by September 30 for each year of the biennium.
3. The Grantee shall submit, in a format prescribed by the Department, a given fiscal year's audit to the Department no later than March 1 of the subsequent year.
4. The audit shall include as part of the Report on Compliance and Internal Control, the specific financial assurances contained in Section VIII.G. of the General Grant Requirements and any Targeted Grant requirements. The audit shall include an opinion on whether or not the Grantee complied with the applicable assurances. A summary of all material instances of non-compliance and an identification of the total amount of funds in question for each assurance shall be included in the audit.
5. Audits received after March 1 of the subsequent year are considered delinquent. Grantees with delinquent audits are subject to a NCCR and funds may be suspended by the Department.
Auditing Requirements. RAS reserves the right to investigate any Space where the Licence Fee is derived from the recording of Gross Sales Revenue, including but not limited to, spot cash counts, cash or stock reconciliation and observation of the Licensee’s operations. Licensee are required to facilitate an investigation of their Space when requested.