Special Audit Clause Samples
A Special Audit clause grants a party the right to conduct an audit outside of the regular audit schedule, typically in response to specific concerns or triggering events such as suspected non-compliance or financial irregularities. This clause outlines the circumstances under which a special audit can be initiated, the scope of information that can be reviewed, and the procedures to be followed during the audit process. Its core practical function is to provide an additional layer of oversight and assurance, enabling parties to address potential issues promptly and maintain trust in contractual relationships.
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Special Audit. When the GICB or the Finance Services Bureau thinks necessary or appropriate and at any time and with or without prior notice, the Subconcessionaire shall accept the special audit conducted by an independent external entity or other entities with internationally recognized reputation.
Special Audit. If the County, at any time during the term of this Agreement or any extension thereof, has reason to suspect that Hazardous Substances are being or have been used, handled, stored, generated, created, disposed, placed and/or transported contrary to the requirements of this Agreement, in violation of Environmental Laws or in any manner that has resulted, or is likely to result, in a Hazardous Substance Release, the County may, without limiting its other rights and remedies, require Licensee to conduct, and furnish to the County, at Licensee's sole expense, an environmental audit of its Rental Car Service Facility, and/or Ready Return Spaces with respect to the environmental matters of concern to the County (each, a "Special Audit"). If a Special Audit finds no Hazardous Substance Release, no violation of the environmental provisions of this Agreement and no violation of Environmental Laws, the County shall reimburse Licensee for the reasonable costs paid by Licensee for such Special Audit.
Special Audit. At all times during the Term of this Contract, and for six (6) years after the full completion and final acceptance of such Work, the Contractor shall maintain and keep such books and records, as will indicate the actual cost of doing the Work required by the Contract as well as records reflecting the usage of equipment and personnel. The records reflecting the cost of doing the Work shall include, but not be limited to the following items and their costs:
4.36.1 Necessary materials (including purchase records for major items and transportation to the site).
4.36.2 Necessary direct labor (daily labor records).
4.36.3 All insurance required.
4.36.4 Payment required to be made to labor organizations under existing labor agreements.
4.36.5 Sales and personal property taxes.
4.36.6 Maintenance, operation and rental of or reasonable rental value of the Contractor-owned plant and equipment other than small tools.
4.36.7 Necessary overhead costs.
4.36.8 Repair work sheets. Contractor shall retain records of route sheets (i.e. riding sheets) sufficient to identify specifically which trucks and which individuals performed specific repairs. This should include but not be limited to:
4.36.8.1 The truck’s ID Number. The names of crew members.
Special Audit. At all times during the term of performance of this contract, and for six (6) years after full completion and final acceptance of such performance, the Contractor shall maintain and keep such books and records, as will indicate the actual cost of doing the work required by the contract as well as records reflecting the usage of equipment and personnel. The records reflecting the cost of doing the work shall include, but not be limited to the following items and their costs: Necessary materials (including purchase records for major items and transportation to the site). Necessary direct labor (daily labor records). All insurance required. Payment required to be made to labor organizations under existing labor agreements. Sales and personal property taxes. Maintenance, operation and rental of or reasonable rentals value of Contractor-owned plant and equipment other than small tools. Necessary overhead costs. Repair work sheets. Contractor shall retain records of route sheets (i.e. riding sheets)sufficient to identify specifically which trucks and which individuals performed specific repairs. This should include but not be limited to: The truck’s ID Number. The names of crew members. Message number. Locations of repairs. Date and time of repair. Type of repair (i.e. work order, special work orders, or emergency work orders). Nature of work requested and performed (i.e. replaced bulb, etc.). Indication that the street light was functioning properly following repair. In addition, the Contractor shall keep records sufficient to identify which hours each employee works on specific city contracts, including employee time cards, signed by employee and supervisor or manager. The Contractor shall also keep such further books and records as in the judgment of the Commissioner may be deemed necessary to accomplish the above purpose.
Special Audit. The Parties will have the right at any time to have special audit made of the books of accounts, records and affairs of JVC but any special audit shall be at the expenses of the requesting Party, and if material discrepancies in any of JVC’s accounts, records or affairs are discovered as a result of such audit, the expenses for such audit shall be paid for by JVC.
Special Audit. Promptly upon receipt thereof, copies of all financial statements of independent public accountants to Borrower in connection with any special audit of Borrower's consolidated financial statements;
Special Audit. If County, at any time during the term of this Lease or any extension thereof, has reason to suspect that Hazardous Substances are being or have been created, used, handled, stored, generated, disposed, placed and/or transported contrary to the requirements of this Lease, or in any manner that has resulted, or is likely to result, in a Hazardous Substance Release in violation of applicable Environmental Laws, then County may, after written communication of those reasons to Lessee, without limiting its other rights and remedies, conduct a special audit of the Premises, at County's expense, with respect to the environmental matters of concern to County ("Special Audit"). If a Hazardous Substance Release by Lessee or a violation of any Environmental Laws by ▇▇▇▇▇▇ is discovered, then ▇▇▇▇▇▇ will reimburse County for the full cost of the Special Audit.
Special Audit. Seller acknowledges that Buyer will retain independent auditors to conduct an audit of the Acquired Assets, the Business and the “Acquired Assets” under the Additional Purchase Agreement. The audit will be conducted in order to permit Buyer to prepare financial statements that are required to be publicly disclosed by MMLP under the Securities Exchange Act of 1934, as amended. Seller will cooperate with, make information available to, and meet and consult with Buyer and Buyer’s auditors in order to allow Buyer to complete such audit. Seller shall pay the first $100,000 of fees and costs associated with such audit and Buyer will pay all fees and costs associated with such audit in excess of $100,000.
Special Audit. A Party may appoint on its own behalf and at its own expense an accountant of its choice, who may be either an accountant registered in the PRC or registered elsewhere to audit the accounts of the Company and its Subsidiaries. If the results of any such audit are significantly different from that conducted by the independent Auditors of the Company and are accepted by the Board, the expense shall be borne by the Company. Such accountant shall keep confidential all the documents audited by him or her. The Company will permit such accountant to have access to the books and records of the Company and its Subsidiaries and will provide him or her with office space and all other reasonable assistance to enable him or her to carry out the audit.
Special Audit. The Borrower shall carry out a special audit focusing on governance and financial accountability on completion of the Project.