Operational Audits definition
Examples of Operational Audits in a sentence
The Parties agree that, for Operational Audits, the deficiencies or material weaknesses shall be assessed against Provider’s written obligations pursuant to the Master Agreement and the Service Agreements.
With respect to any Internal Operational Audit or any Regulatory Operational Audits (collectively, “Operational Audits”), Provider shall grant Investors, any Regulators or any Audit Representative, full and complete access to Provider’s records and other documents of Provider and its Subcontractors, as they relate to this Agreement, or as they may be required in order for Investors to ascertain any facts relative to Provider’s performance hereunder.
RECORDKEEPING AND AUDIT RIGHTS 66 18.1 Recordkeeping 66 18.2 Financial Audits 68 18.3 Operational Audits 68 18.4 ▇▇▇▇▇▇▇▇-▇▇▇▇▇ Compliance 69 19.
Further, with regards specifically to any Regulatory Operational Audits, Provider shall endeavor to respond to any Regulator driven request within the time period specified by such Regulator (which in some cases may be twenty four (24) hours).
Operational Audits under this section, that relate to the Annual Service Fees or pricing, shall be subject to the limitations set out in Section 6.2. Provider shall make reasonable efforts to cause any Provider Subcontractor to comply with the foregoing provisions to the extent necessary to complete the Operational Audit.
A request for Provider to provide assistance with Operational Audits will be considered a Work Order or Initiative if such Audit assistance results from a change in Investors’ audit requirements or information is required to be provided in a format different from the format normally used by Provider and Investors.
The Operational Audits shall be scheduled at mutually agreeable times upon reasonable advance written notice to ICS and shall be reasonable in scope and will not unduly interfere with ICS’ operations.
A summary of performance management activities and their frequency are set forth below: Management and Operational Audits Annually Contractor’s annual audits are performed by off-account JLL Center of Excellence members focused on ensuring all aspects of managerial practices and operational processes are being adhered to.
If the audits under Sections 14.1 (Operational Audits) or Section 14.2 (Regulatory Audits) uncover a discrepancy between P▇▇▇▇ Systems’ operations and P▇▇▇▇ Systems’ Responsibilities under this Agreement, or any other failure of P▇▇▇▇ Systems to comply with its obligations under this Agreement or Laws, then P▇▇▇▇ Systems will, at its expense, and will cause each of its subcontractors, employees and agents to, promptly take action to alleviate the discrepancy or comply with such requirements or Laws.
If the audits under Sections 14.1 (Operational Audits) or Section 14.2 (Regulatory Audits) uncover a discrepancy between NTT DATA’ operations and NTT DATA’ Responsibilities under this Agreement, or any other failure of NTT DATA to comply with its obligations under this Agreement or Laws, then NTT DATA will, at its expense, and will cause each of its subcontractors, employees and agents to, promptly take action to alleviate the discrepancy or comply with such requirements or Laws.