Common use of Program Audits Clause in Contracts

Program Audits. Mozambique shall, on at least an annual basis (or on such other intermittent basis as requested by MCC in writing), conduct, or cause to be conducted, financial audits and review engagements of all disbursements of MCC Funding and the Country Contribution. The initial audit shall cover the period from signing of this Compact until the initial audit period end date specified in an audit plan developed and implemented by MCA-Moçambique in accordance with the Audit Guidelines and Program Implementation Agreement (the “Audit Plan”). Subsequent audits shall cover each twelve-month period thereafter, through the end of the Compact Term, as well as the 120-day period following the expiration of the Compact Term. All such audits and review engagements shall be performed in accordance with the Accountable Entities Guidelines for Contracted Financial Audits (the “Audit Guidelines”) or such other processes and procedures as MCC may direct from time to time. In addition, Mozambique shall ensure that such audits are conducted by an independent auditor approved by MCC and selected in accordance with the Audit Guidelines. Each audit must be completed, and the draft audit report delivered to MCC no later than 120 days after the applicable audit period, or such other period as the Parties may otherwise agree in writing. Any changes to the period to be audited shall be included in the Audit Plan as approved by MCC or as agreed by the Parties in writing.