Sas 70 Clause Samples

The SAS 70 clause refers to a requirement that a service organization provide a Statement on Auditing Standards No. 70 (SAS 70) report, which is an independent auditor’s attestation of the organization’s internal controls relevant to financial reporting. In practice, this clause obligates the service provider to undergo a third-party audit and share the resulting report with the client, demonstrating that adequate controls and safeguards are in place. The core function of this clause is to give clients assurance about the reliability and security of the service provider’s operations, thereby reducing risk and supporting compliance with regulatory requirements.
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Sas 70. Insurance Company shall make available upon Transfer Agent’s request a copy of Insurance Company’s most recent SAS 70. Insurance Company shall promptly notify Transfer Agent in the event of a material breach of operational controls related to services under this Agreement.
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Sas 70. Upon reasonable request of the Trust, the Transfer Agent shall provide the Trust with a copy of the Transfer Agent’s annual report prepared in compliance with the requirements of Statement of Auditing Standards No. 70 issued by the American Institute of Certified Public Accountants, as it may be amended from time to time (commonly referred to as a “SAS 70 report”). For fiscal periods ending on or after June 15, 2011, the SAS 70 report will be replaced by the Statement of Standards for Attestation Engagements No. 16 (commonly referred to as a “SSAE 16 report”).
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Sas 70. (a) The HSBC Companies shall provide the Block Companies with a Type II SAS 70 report (or any equivalent thereof or successor thereto) within sixty (60) days after the end of each calendar year during the Term of this Retail Distribution Agreement. This SAS 70 Type II Report (or any equivalent thereof or successor thereto) is necessary in order to permit the Block Companies' management to perform an adequate assessment of internal control over financial reporting (and to permit the Block Companies' auditors to audit the Block Companies' internal control over financial reporting and management's assessment thereof). The HSBC Companies and the Block Companies shall split equally expenses incurred by the HSBC Companies in connection with the preparation of the Type II SAS 70 Report; provided the Block Companies' portion of such expenses shall not exceed Fifty Thousand Dollars ($50,000) in any year of the Term of the Retail Distribution Agreement. (b) Such SAS 70 Type II Report (or any equivalent thereof or successor thereto) must be prepared by the HSBC Companies' independent auditors in accordance with Statement on Auditing Standards No. 70, Service Organizations ("SAS 70") (or any equivalent thereof or successor thereto), and must include an opinion with respect to the controls that are in effect at the HSBC Companies over the practices and procedures relating to the HSBC Companies' performance of such services under the Program Contracts. (c) The HSBC Companies will, and will use commercially reasonable efforts to cause its external auditors to, provide information to the Block Companies' officers and its external auditors, as the case may be, in order to allow each of them to perform the procedures that are required by generally accepted auditing standards, including, without limitation, PCAOB Auditing Standard No. 2, by Section 404 of the Sarbanes-Oxley Act and by the rules promulgated thereunder with resp▇▇▇ ▇▇ (▇) ▇▇▇ SAS 70 Type II Report (or any equivalent thereof or successor thereto) delivered in accordance with this Section 6.10 and (ii) the controls to which such report relates. (d) The costs of any corrective actions taken as a result of Type II SAS 70 Reports will be paid by the HSBC Companies, except to the extent the corrective actions relate to a program or procedure of the Block Companies that the HSBC Companies are following based on written direction from the Block Companies.
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Sas 70. The second-to-last bullet under “DR’s Rights and Obligations (“• DR shall provide to Company a SAS-70 Type II report….”) is hereby deleted in its entirety and shall be of no further force and effect.
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Sas 70. BETA undergoes an annual SAS 70 audit with the scope of such audit to be determined by the BETA User Group. AGE shall have the right to audit the facilities and systems of BETA and/or any BETA subcontractor to verify BETA’s compliance with the security and operational requirements of this Agreement if either or both of the following occur: (1) the then current SAS 70 audit report does not address BETA’s compliance or noncompliance [ *** ]; and/or (2) the then current SAS 70 audit report reflects BETA’s noncompliance [ *** ]. Such audit shall include an inspection of facilities, access to the BETA or BETA Agent systems, a review of records and a review of policies and procedures. Such audit will be conducted at AGE’s expense and will be performed in conjunction with the annual SAS 70 audit, by the same audit firm conducting the SAS 70 audit, provided the BETA User Group agrees to allow AGE to expand the scope of the SAS 70 audit to include the issues auditable by AGE under this provision. If the BETA User Group does not so agree, AGE’s separate audit will be conducted at a mutually agreed upon time that shall not be less than 10 business days from the date requested by AGE by an independent third party retained by AGE. Any deficiencies with the security or operational requirements of BETA’s facilities or systems will be promptly corrected and resolved at BETA’s expense.
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Sas 70. Reliance shall engage a national accounting firm at least annually to complete a SAS-70 audit of its operations. The SAS-70 Report issued by this accounting firm shall be made available to Plan Fiduciary upon request
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Sas 70 
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Related to Sas 70

  • Annual Statement of Compliance The Officer’s Certificate required to be delivered by the Issuing Entity, pursuant to Section 3.9 of the Indenture or the Officer’s Certificate required to be delivered by the Servicer pursuant to Section 4.01(a) of the Servicing Agreement, as applicable.

  • OIG INSPECTION, AUDIT, AND REVIEW RIGHTS ‌ In addition to any other rights OIG may have by statute, regulation, or contract, OIG or its duly authorized representative(s) may conduct interviews, examine or request copies of ▇▇▇▇▇▇’▇ books, records, and other documents and supporting materials and/or conduct on-site reviews of any of ▇▇▇▇▇▇’▇ locations for the purpose of verifying and evaluating: (a) ▇▇▇▇▇▇’▇ compliance with the terms of this IA and (b) ▇▇▇▇▇▇’▇ compliance with the requirements of the Federal health care programs. The documentation described above shall be made available by ▇▇▇▇▇▇ to OIG or its duly authorized representative(s) at all reasonable times for inspection, audit, and/or reproduction. Furthermore, for purposes of this provision, OIG or its duly authorized representative(s) may interview ▇▇▇▇▇▇ and any of ▇▇▇▇▇▇’▇ employees or contractors who consent to be interviewed at the individual’s place of business during normal business hours or at such other place and time as may be mutually agreed upon between the individual and OIG. ▇▇▇▇▇▇ shall assist OIG or its duly authorized representative(s) in contacting and arranging interviews with such individuals upon OIG’s request. ▇▇▇▇▇▇’▇ employees and contractors may elect to be interviewed with or without a representative of ▇▇▇▇▇▇ present.

  • Report on Assessment of Compliance and Attestation (a) On or before March 15 of each calendar year, commencing in 2007, unless no reporting obligation under the Exchange Act exists at such time with respect to the Trust Fund: (i) Each of the Servicer and the Trustee shall deliver to the Depositor and the Servicer a report (in form and substance reasonably satisfactory to the Depositor) regarding the Servicer's or the Trustee's, as applicable, assessment of compliance with the Servicing Criteria during the immediately preceding calendar year, as required under Rules 13a-18 and 15d-18 of the Exchange Act and Item 1122 of Regulation AB. Such report shall be signed by an authorized officer of such Person and shall address each of the Servicing Criteria applicable to such party specified on a certification delivered to the Depositor concurrently with the execution of this Agreement. To the extent any of the Servicing Criteria are not applicable to such Person, with respect to asset-backed securities transactions taken as a whole involving such Person and that are backed by the same asset type backing the Certificates, such report shall include such a statement to that effect. The Depositor and the Servicer, and each of their respective officers and directors shall be entitled to rely on upon each such servicing criteria assessment. (ii) Each of the Servicer and the Trustee shall deliver to the Depositor and the Servicer a report of a registered public accounting firm reasonably acceptable to the Depositor that attests to, and reports on, the assessment of compliance made by Servicer or the Trustee, as applicable, and delivered pursuant to the preceding paragraphs. Such attestation shall be in accordance with Rules 1-02(a)(3) and 2-02(g) of Regulation S-X under the Securities Act and the Exchange Act, including, without limitation that in the event that an overall opinion cannot be expressed, such registered public accounting firm shall state in such report why it was unable to express such an opinion. Such report must be available for general use and not contain restricted use language. To the extent any of the Servicing Criteria are not applicable to such Person, with respect to asset-backed securities transactions taken as a whole involving such Person and that are backed by the same asset type backing the Certificates, such report shall include such a statement to that effect. (iii) The Servicer shall cause each Reporting Subcontractor to deliver to the Depositor an assessment of compliance and accountant's attestation as and when provided in paragraphs (a) and (b) of this Section 11.07. (iv) The Trustee shall cause each Reporting Subcontractor to deliver to the Depositor and the Servicer an assessment of compliance and accountant's attestation as and when provided in paragraphs (a) and (b) of this Section. (v) The Servicer shall execute (and the Servicer shall cause each Reporting Subcontractor to execute) a reliance certificate to enable the Certification Parties to rely upon each (A) annual compliance statement provided pursuant to Section 3.17, (B) annual report on assessments of compliance with servicing criteria provided pursuant to this Section 11.07 and (C) accountant's report provided pursuant to this Section 11.07 and shall include a certification that each such annual compliance statement or report discloses any deficiencies or defaults described to the registered public accountants of such Person to enable such accountants to render the certificates provided for in this Section 11.07. (vi) The Trustee shall execute (and the Trustee shall cause each Reporting Subcontractor to execute) a reliance certificate to enable the Certification Parties to rely upon each (A) annual report on assessments of compliance with servicing criteria provided pursuant to this Section 11.07 and (C) accountant's report provided pursuant to this Section 11.07 and shall include a certification that each such report discloses any deficiencies or defaults described to the registered public accountants of such Person to enable such accountants to render the certificates provided for in this Section 11.07. (b) In the event the Servicer, the Trustee or Reporting Subcontractor is terminated or resigns during the term of this Agreement, such Person shall provide documents and information required by this Section 11.07 with respect to the period of time it was subject to this Agreement or provided services with respect to the Trust Fund, the Certificates or the Mortgage Loans. (c) An assessment of compliance provided by a Subcontractor pursuant to Section 11.07(a)(iii) or (iv) need not address any elements of the Servicing Criteria other than those specified by the Servicer or the Trustee, as applicable, pursuant to Section 11.07(a)(i).

  • Financial Audit The School shall submit audited financial statements from an independent auditor to the Authorizer no later than November 1 of each year.

  • Annual Independent Public Accountants’ Reports (a) The Servicer shall cause Independent Accountants, who may also render other services to the Servicer or its Affiliates, to deliver to the Backup Servicer, the Owner Trustee and the Indenture Trustee, on or before March 31 (or 90 days after the end of the Issuer’s fiscal year, if other than December 31) of each year, beginning in March 31, 2025, a report, dated as of December 31 of the preceding calendar year, addressed to the board of directors of the Servicer, providing its attestation report on the servicing assessment delivered pursuant to Section 4.10(c), including disclosure of any material instance of non-compliance, as required by Rule 13a-18 and 15d-18 of the Exchange Act and Item 1122(b) of Regulation AB. Such attestation will be in accordance with Rules 1-02(a)(3) and 2-02(g) of Regulation S-X under the Securities Act and the Exchange Act. (b) Each party required to deliver an assessment of compliance described in Section 4.10(d) shall cause Independent Accountants, who may also render other services to such party or its Affiliates, to deliver to the Backup Servicer, the Owner Trustee, the Indenture Trustee and the Servicer, on or before March 31 (or 90 days after the end of the Issuer’s fiscal year, if other than December 31) of each year, beginning in March 31, 2025, a report, dated as of December 31 of the preceding calendar year, addressed to the board of directors of such party, providing its attestation report on the servicing assessment delivered pursuant to Section 4.10(d), including disclosure of any material instance of non-compliance, as required by Rule 13a-18 and 15d-18 of the Exchange Act and Item 1122(b) of Regulation AB. Such attestation will be in accordance with Rules 1-02(a)(3) and 2-02(g) of Regulation S-X under the Securities Act and the Exchange Act. (c) The Servicer shall cause a firm of Independent Accountants, who may also render other services to the Servicer or to the Seller, (1) to deliver to the Backup Servicer, the Owner Trustee and the Indenture Trustee on or before April 30 (or 120 days after the end of the Servicer’s fiscal year, if other than December 31) of each year, beginning on April 30, 2025, with respect to the twelve months ended the immediately preceding December 31 (or other applicable date) (or such other period as shall have elapsed from the Closing Date to the date of such certificate (which period shall not be less than six months)), a copy of the Form 10-K filed with the United States Commission for Exeter Finance Corp., which filing includes a statement that such audit was made in accordance with generally accepted auditing standards, and accordingly included such tests of the accounting records and such other auditing procedures as such firm considered necessary in the circumstances; and (2) upon request of the Backup Servicer, the Owner Trustee or the Indenture Trustee, to issue an acknowledgement to the effect that such firm has audited the books and records of Exeter Finance Corp., in which the Servicer is included as a consolidated subsidiary, and issued its report pursuant to item (1) of this section and that the accounting firm is independent of the Seller and the Servicer within the meaning of the Code of Professional Ethics of the American Institute of Certified Public Accountants. (d) Neither the Indenture Trustee nor the Backup Servicer shall be liable for any claims, liabilities or expenses relating to such accountants’ engagement or any report issued in connection with such engagement, and the dissemination of any such report other than pursuant to the Basic Documents or applicable law is subject to the written consent of such accountants.