Common use of Auditor’s Report Clause in Contracts

Auditor’s Report. The Recipient will obtain an Auditor’s Report when the Maximum Funds (set out in Schedule “B” of the Agreement) total $100,000 or more. The audit of all SRERs will be conducted by an external auditor in accordance with Canadian Generally Accepted Auditing Standards. The auditor should verify, at a minimum, that proper and distinct accounts and records are maintained for program funds/expenditures by each budget line. The Auditor’s Report will include an opinion on the SRER(s). The Auditor will attach the SRER(s) reviewed with the Auditor’s Report. Upon receipt of the Auditor’s Report, the Recipient will submit the full report to the Province as directed by and in the form required by the Province. A sample Auditor’s Report that meets the Province’s requirements is set out below.

Auditor’s Report. The Recipient will obtain an Auditor’s Report when the Maximum Funds (set out in Schedule “B” of the Agreement) total $100,000 or more. The audit of all SRERs will be conducted by an external auditor in accordance with Canadian Generally Accepted Auditing Standards. The auditor should verify, at a minimum, that proper and distinct accounts and records are maintained for program funds/expenditures by each budget line. The Auditor’s Report will include an opinion on the SRER(s)SRER. The Auditor will attach the SRER(s) SRER reviewed with the Auditor’s Report. Upon receipt of the Auditor’s Report, the Recipient will submit the full report to the Province as directed by and in the form required by the Province. A sample Auditor’s Report that meets the Province’s requirements is set out below.