Mandatory Compliance Review by Independent CPA Sample Clauses

Mandatory Compliance Review by Independent CPA. ‌ The Requesting Party and any of its Principals and subsidiaries using CBSV are subject to a mandatory annual compliance review (Examination Engagement). SSA will determine if additional reviews are required. The actual date of the compliance reviews will be determined by SSA in consultation with the reviewing CPA.
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Mandatory Compliance Review by Independent CPA. The Requesting Party and any of its Principals and subsidiaries using CBSV are subject to a mandatory annual compliance review (Examination Engagement). SSA will determine if additional reviews are required. The actual date of the compliance reviews will be determined by SSA in consultation with the reviewing CPA. Initiating the Compliance Review An SSA-appointed CPA firm will perform an annual audit that all authorized transactions are complete and accurate. The CPA firm will perform the Examination Engagement in accordance with the standards established by the American Institute of Certified Public Accountants and contained in the Generally Accepted Government Audit Standards (GAGAS). SSA will email a notice to the Requesting Party identifying the name of the retained CPA firm and its designated contact. SSA will provide to the CPA a statistically-valid random sample of the Requesting Party’s verifications identified by name, SSN and date of birth along with the verification results provided to the Requesting Party. SSA will use the U.S. Government Accountability Office (GAO) President’s Council on Integrity and Efficiency’s (PCIE) Financial Audit Manual (FAM), Section 460, Compliance Tests in determining the sample size. Requesting Party’s Cooperation with the Compliance Review The Requesting Party will: Provide to the reviewing CPA a copy of this signed User Agreement and all applicable attachments in their entirety; and Inform all of its Principals of the requirement to produce supporting documentation upon CPA’s request for purposes of compliance reviews. CPA In performance of the Examination Engagement under this User Agreement, the CPA must use the review assertions specified in Attachment E, CBSV Attestation Requirements & Requesting Party Compliance Assertions (Audit). In addition the CPA must: Follow standards established by the American Institute of Certified Public Accountants (AICPA) and contained in GAGAS. Provide a report containing the results of the Examination Engagement to the designated SSA contact within 30 days after completing the Examination Engagement. Provide the Requesting Party with a copy of the report 30 days after the report is provided to SSA, unless SSA informs the CPA otherwise.
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Mandatory Compliance Review by Independent CPA. ‌ The Requesting Party and any of its Principals are subject to a mandatory compliance review (Examination Engagement). SSA will determine the frequency of the Requesting Party’s compliance review, which must be no less frequently than annually, with additional reviews as SSA determines to be appropriate. The actual date of the compliance reviews will be determined by SSA in consultation with the reviewing CPA.
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Related to Mandatory Compliance Review by Independent CPA

  • Certification Regarding Termination of Contract for Non-Compliance (Tex Gov. Code 552.374)

  • Response/Compliance with Audit or Inspection Findings A. Grantee must act to ensure its and its Subcontractors’ compliance with all corrections necessary to address any finding of noncompliance with any law, regulation, audit requirement, or generally accepted accounting principle, or any other deficiency identified in any audit, review, or inspection of the Contract and the services and Deliverables provided. Any such correction will be at Grantee’s or its Subcontractor's sole expense. Whether Xxxxxxx's action corrects the noncompliance shall be solely the decision of the System Agency.

  • Office of Inspector General Investigative Findings Expert Review In accordance with Senate Bill 799, Acts 2021, 87th Leg., R.S., if Texas Government Code, Section 531.102(m-1)(2) is applicable to this Contract, Contractor affirms that it possesses the necessary occupational licenses and experience.

  • Engagement of Independent Review Organization Within 60 days after the Effective Date, Xx. Xxxxxx shall engage an individual or entity, such as an accounting, auditing, or consulting firm (hereinafter “Independent Review Organization” or “IRO”), to perform the reviews listed in this Section III.C. The applicable requirements relating to the IRO are outlined in Appendix A to this IA, which is incorporated by reference.‌

  • Independent Review Contractor shall provide the Secretary of ADS/CIO an independent expert review of any Agency recommendation for any information technology activity when its total cost is $1,000,000.00 or greater or when CIO requires one. The State has identified two sub-categories for Independent Reviews, Standard and Complex. The State will identify in the SOW RFP the sub-category they are seeking. State shall not consider bids greater than the maximum value indicated below for this category. Standard Independent Review $25,000 Maximum Complex Independent Review $50,000 Maximum Per Vermont statute 3 V.S.A. 2222, The Secretary of Administration shall obtain independent expert review of any recommendation for any information technology initiated after July 1, 1996, as information technology activity is defined by subdivision (a) (10), when its total cost is $1,000,000 or greater or when required by the State Chief Information Officer. Documentation of this independent review shall be included when plans are submitted for review pursuant to subdivisions (a)(9) and (10) of this section. The independent review shall include: • An acquisition cost assessment • A technology architecture review • An implementation plan assessment • A cost analysis and model for benefit analysis • A procurement negotiation advisory services contract • An impact analysis on net operating costs for the agency carrying out the activity In addition, from time to time special reviews of the advisability and feasibility of certain types of IT strategies may be required. Following are Requirements and Capabilities for this Service: • Identify acquisition and lifecycle costs; • Assess wide area network (WAN) and/or local area network (LAN) impact; • Assess risks and/or review technical risk assessments of an IT project including security, data classification(s), subsystem designs, architectures, and computer systems in terms of their impact on costs, benefits, schedule and technical performance; • Assess, evaluate and critically review implementation plans, e.g.: • Adequacy of support for conversion and implementation activities • Adequacy of department and partner staff to provide Project Management • Adequacy of planned testing procedures • Acceptance/readiness of staff • Schedule soundness • Adequacy of training pre and post project • Assess proposed technical architecture to validate conformance to the State’s “strategic direction.” • Insure system use toolsets and strategies are consistent with State Chief Information Officer (CIO) policies, including security and digital records management; • Assess the architecture of the proposed hardware and software with regard to security and systems integration with other applications within the Department, and within the Agency, and existing or planned Enterprise Applications; • Perform cost and schedule risk assessments to support various alternatives to meet mission need, recommend alternative courses of action when one or more interdependent segment(s) or phase(s) experience a delay, and recommend opportunities for new technology insertions; • Assess the architecture of the proposed hardware and software with regard to the state of the art in this technology. • Assess a project’s backup/recovery strategy and the project’s disaster recovery plans for adequacy and conformance to State policy. • Evaluate the ability of a proposed solution to meet the needs for which the solution has been proposed, define the ability of the operational and user staff to integrate this solution into their work.

  • Indemnification by Asset Representations Reviewer The Asset Representations Reviewer will indemnify each of the Issuer, the Seller, the Servicer, the Administrator, the Owner Trustee and the Indenture Trustee and their respective directors, officers, employees and agents for all fees, expenses, losses, damages and liabilities (including, but not limited to, reasonable legal fees, costs and expenses, and including any such reasonable fees, costs and expenses incurred in connection with any enforcement (including any action, claim, or suit brought by such indemnified parties) of any indemnification or other obligation of the Asset Representations Reviewer) resulting from (a) the willful misconduct, bad faith or negligence of the Asset Representations Reviewer in performing its obligations under this Agreement and (b) the Asset Representations Reviewer’s breach of any of its representations or warranties in this Agreement. The Asset Representations Reviewer’s obligations under this Section 4.5 will survive the termination of this Agreement, the termination of the Issuer and the resignation or removal of the Asset Representations Reviewer.

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