SYSTEMS AUDITS Clause Samples

SYSTEMS AUDITS. Identification of the bodies/structures to be audited, as well as the relevant key control elements in the context of systems audits. Where applicable, reference to the audit body on which the Audit Authority relies to perform these audits.

SYSTEMS AUDITS. ⮚ Indicate the bodies that have carried out systems testing for the purpose of this report, including the Audit Authority itself. ⮚ Attach a summary list of the audits carried out; indicate the materiality and confidence levels applied (%), where appropriate, and the date on which the audit report was forwarded to the Commission. ⮚ Describe the basis for selection of the audits in the context of the annual audit work plan. ⮚ Describe the principal findings and the conclusions drawn from the audit work for the management and control systems, including the adequacy of the audit trail and compliance with Community requirements and policies. ⮚ Indicate any financial impact of findings. ⮚ Provide information on the follow-up of the audit findings and in particular any corrective and preventive measures applied or recommended.

SYSTEMS AUDITS. If the audit involves a review of DVFS's procedures, programs and systems, or of DVFS's proprietary records pertaining to this Agreement, then, at Client's options, the audit may be conducted by Client's qualified personnel or by a qualified independent auditor reasonably satisfactory to DVFS, selected and paid for by Client, provided that such personnel or auditor signs a reasonably acceptable confidentiality agreement with DVFS before beginning the audit.

SYSTEMS AUDITS. 4.1 Details of the authorities/bodies that have carried out systems audits, including the Audit Authority itself. 4.2 Summary table of the audits carried out, with the indication of the authorities/bodies audited, the assessment of the key requirements for each authority/body, issues covered2 1 Pursuant to Article 63(2) of the financial framework partnership agreement 2 The issues should correspond to the ones indicated in the audit strategy (but not exclusively), such as quality of management verifications, including in relation to the respect of public procurement rules, State aid rules, environmental requirements, equal opportunities, implementation of financial instruments, the effectiveness of IT systems, reporting of withdrawals and recoveries, the implementation of fraud risk assessment; the reliability of data relating to indicators and milestones and on the progress of the programme in achieving its objectives. and a comparison to the audit planning. The summary includes the programme (reference/title), the authority/body that has carried out the system audit, the date of the audit, the scope of audit including scope limitations and the authorities/bodies audited. Horizontal thematic audits are also reported in this Section. Audit period 1. Programme (reference/ title) 2. Audit Body3 3. Audited Body(ies) 4. Date of the audit4 5. Scope of the audit5 6. Principal findings and conclusions 7. Problems of systemic character and measures taken 8. Estimated financial impact (if applicable) 9. State of follow-up (closed/or not) 4.3 Description of the basis for the audits carried out, including a reference to the audit strategy applicable and more particularly to the risk assessment methodology and the results that led to establishing the audit plan for system audits. If the risk assessment has been updated, this should be described in section 3 above covering the changes in the audit strategy.