Internal Financial Controls. Internal Audit plays a key role in providing an assurance to Management with respect to the Company having adequate Internal Control Systems. The Internal Control Systems provide, among other things, reasonable assurance of recording the transactions of its operations in all material respects and of providing protection against significant misuse or loss of Company’s assets. The Internal Auditors submit their Report periodically which is placed before and reviewed by the Audit Committee.
Internal Financial Controls. The Corporation maintains a system of control over financial reporting sufficient to provide reasonable assurance that: (i) transactions are completed in accordance with the general or a specific authorization of management of the Corporation; (ii) transactions are recorded as necessary to permit the preparation of financial statements for the Corporation (on a consolidated basis) in conformity with IFRS and to maintain asset accountability; (iii) access to assets of the Corporation and its Subsidiaries is permitted only in accordance with the general or a specific authorization of management of the Corporation; and (iv) the recorded accountability for assets of the Corporation and its Subsidiaries is compared with the existing assets of the Corporation and its Subsidiaries at reasonable intervals and appropriate action is taken with respect to any differences therein.
Internal Financial Controls. 2.8.1 Contractor shall be responsible for implementing procedures and internal financial controls governing the management and utilization of funds provided hereunder. Contractor shall maintain its books, records, and documents (including electronic storage media) in accordance with generally accepted accounting principles and practices which sufficiently and properly reflect all revenues and expenditures of funds provided by CSTB under this Contract.
Internal Financial Controls. The Company maintains a system for disclosure controls and procedures and internal control over financial reporting (as such terms are defined in Regulation 52-109) which controls are effective and sufficient to provide reasonable assurance that: (i) transactions are completed in accordance with the general or a specific authorization of management of the Company; (ii) transactions are recorded as necessary to permit the preparation of financial statements for the Company (on a consolidated basis) in conformity with IFRS and to maintain asset accountability; (iii) access to assets of the Company and its subsidiaries is permitted only in accordance with the general or a specific authorization of management of the Company; and (iv) the recorded accountability for assets of the Company and its subsidiaries is compared with the existing assets of the Company and its subsidiaries at reasonable intervals and appropriate action is taken with respect to any differences therein. There is no material weakness (as such term is defined in Regulation 52-109) relating to the design, implementation or maintenance of its internal control over financial reporting, or fraud, whether or not material, that involves management or other employees who have a significant role in the internal control over financial reporting of the Company. As of the date hereof, neither the Company nor, to the knowledge of the Company, any representative of the Company has received or otherwise obtained knowledge of any complaint, allegation, assertion, or claim, whether written or oral, regarding accounting, internal accounting controls or auditing matters, including any reasonable complaint, allegation, assertion, claim or expression of concern that the Company has engaged in questionable accounting or auditing practices.
Internal Financial Controls. The fiscal controls, accounting procedures and financial reporting shall be performed in accordance with Generally Accepted Accounting Principles (GAAP) and Contractor shall be responsible for implementing and maintaining procedures and internal financial controls governing the management and utilization of funds provided in this Contract. Contractor shall understand and use applicable federal Office of Management and Budget (OMB) cost and administrative circulars, and applicable federal and state laws and regulations in budgeting and expending the public funds under this contract. Contractors must maintain cost allocation plans that properly allocate costs between management/administrative functions and operations, as well as among the various service modules funded by BWDB. Contractors’ cost allocation plans must meet BWDB requirements and will be reviewed by Board staff. Costs shall be tracked in sufficient detail to determine compliance with prescribed cost categories and Contract requirements to the extent that they are expended on the program covered by this Contract and to ensure funds have not been unlawfully spent. All expenditures must be necessary and reasonable for proper and efficient administration of the program and allowable under the appropriate funding source. Contractor represents and warrants that it has implemented administrative controls to identify customer costs that are supported by other Federal, State, or local programs to ensure costs are not being duplicated or comingled. The commingling of funds with other funding sources is prohibited. Contractor costs or earnings claimed under one contract or grant may not be claimed under any other contract or grant and Contractor shall maintain fiscal capacity in accordance with the proposal submitted resulting in the award of this Contract.
Internal Financial Controls. The School Governing Authority shall submit copies of all policies and procedures regarding internal financial controls, including the School’s credit card policy, adopted and include them as Attachment 2.8 in this charter agreement.
Internal Financial Controls. (a) SHB maintains for itself and its Subsidiaries a standard system of accounting established and administered in accordance with GAAP.
Internal Financial Controls. (a) TFC maintains for itself and its Subsidiaries a standard system of accounting established and administered in accordance with GAAP.
Internal Financial Controls. (a) The Company maintains for the Company, Company LP and the Company Subsidiaries a standard system of accounting established and administered in accordance with GAAP.
Internal Financial Controls. (a) To the knowledge of the Company, the Company maintains and will continue to maintain until the Effective Time for the Company and its Subsidiaries a standard system of accounting established and administered in accordance with GAAP.
