Auditing and Accounting Sample Clauses

Auditing and Accounting. The Secretary may conduct audits relating to the scope, nature and ex- tent of compliance with the minerals agreement and with applicable regula- tions and orders to lessees, operators, revenue payors, and other persons with rental, royalty, net profit share and other payment requirements arising from the provisions of a minerals agreement. Procedures and standards used for accounting and auditing of minerals agreements will be in accord- ance with audit standards established by the Comptroller General of the United States, in ‘‘Standards for Audit- ing of Governmental Organizations, Programs, Activities, and Functions, 1981,’’ and standards established by the American Institute of Certified Public Accountants.
Sample 1Sample 2Sample 3
AutoNDA by SimpleDocs
Auditing and Accounting. The Consultant shall make available to the Cheyenne MPO their accounting records for progress and post-performance audits when deemed necessary by the Cheyenne MPO.
Sample 1Sample 2
Auditing and Accounting. NHA shall ensure that proper accounts and records are maintained in a timely manner to adequately identify the use of tranche proceeds in such a manner and detail as may be specified in this Loan Agreement and the Project Agreement. Audited financial reports of the NHA shall be submitted to ADB within six months of the end of the fiscal year.
Sample 1
Auditing and Accounting. 23. The Borrower shall cause VEC to (i) maintain separate accounts for the Project;
Sample 1
Auditing and Accounting. 14. Greengen shall cause HTICL to ensure and HTICL shall ensure that: (a) proper accounts and records are maintained and audited in time to adequately identify the use of Loan proceeds in accordance with the Loan Agreement and the Project Agreement; and (b) a separate audit opinion is prepared on the SOE procedures and the SGIA.
Sample 1
Auditing and Accounting. 29. Within six months of the Effective Date, the Beneficiary shall establish appropriate and adequate financial and accounting control systems that will support the PMU’s ability to apply international accounting standards in connection with the Project. Thereafter, the Beneficiary shall ensure that the PMU applies international accounting standards to the Project. Anti-Corruption
Sample 1
Auditing and Accounting. The Borrower shall cause each of the project- specific executing and implementing agencies to ensure that proper accounts and records are maintained in a timely manner to adequately identify the use of relevant loan proceeds provided under the Investment Program in such a manner and details as may be specified in the relevant legal agreements.
Sample 1
AutoNDA by SimpleDocs
Auditing and Accounting. Without limiting the generality of the requirements in the legal documents, the Borrower shall ensure that EVN maintains separate accounts for the Investment Program’s expenditures in accordance with sound accounting principles. All accounts for the Investment Program Project, including financial statements, statements of expenditures and account records, will be audited annually as part of the regular audit of accounts and financial statements by an independent auditing firm. Within 6 months of the close of the financial year, the Borrower shall ensure that EVN submits to ADB (i) annual accounts of the Investment Program Project, and (ii) annual financial statements. The annual accounts will contain detailed descriptions of the sources of receipts and expenditures. The annual financial statements will consist of an income statement, balance sheet, statement of cash flows, and for all of EVN’s operations. The annual financial statements will be consolidated for all of EVN’s operations. The consolidated audit reports (in English) will be submitted to ADB in accordance with the requirements and within the deadlines stated in the applicable Loan Agreement. The audit opinion will include (i) a detailed description of the source of funds and expenditures made; (ii) an assessment of the adequacy of accounting and internal controls systems with respect to each project‘s expenditures and other financial transactions, and to ensure safe custody of the assets financed by the Investment Program; (iii) a determination as to whether EVN has maintained adequate documentation for all financial transactions, specifically including the statement of expenditures (SOE); and (iv) confirmation of compliance with the financial covenants set out in the Loan Agreement. Schedule 5
Sample 1

Related to Auditing and Accounting

  • Accounting and Records The books and records of the Company shall be made and maintained, and the financial position and the results of its operations recorded, at the expense of the Company, in accordance with such method of accounting as is determined by the Managing Member. The books and records of the Company shall reflect all Company transactions and shall be made and maintained in a manner that is appropriate and adequate for the Company’s business.

  • Records and Accounting The General Partner shall keep or cause to be kept at the principal office of the Partnership appropriate books and records with respect to the Partnership’s business, including all books and records necessary to provide to the Limited Partners any information required to be provided pursuant to Section 3.4(a). Any books and records maintained by or on behalf of the Partnership in the regular course of its business, including the record of the Record Holders and Assignees of Units or other Partnership Securities, books of account and records of Partnership proceedings, may be kept on, or be in the form of, computer disks, hard drives, punch cards, magnetic tape, photographs, micrographics or any other information storage device; provided, that the books and records so maintained are convertible into clearly legible written form within a reasonable period of time. The books of the Partnership shall be maintained, for financial reporting purposes, on an accrual basis in accordance with U.S. GAAP.

  • Accounting and Financial Reporting 6.1. The Bank shall maintain separate records and ledger accounts in respect of the Contributions deposited in the Trust Fund account and disbursements made therefrom.

  • ACCOUNTING AND AUDIT The Agency shall utilize and maintain such records and practices regarding receipts and disbursements of the Funds as to be in accordance with generally accepted accounting principles. All such records shall be open to inspection and audit by the City or by the City's designee during normal business hours during the term hereof and for a period of three (3) years after the termination of this Agreement. Any cost incurred by the Agency as a result of a City audit shall be the sole responsibility of and shall be borne by the Agency. In addition, should the Agency provide any or all of the Funds to sub-recipients, then and in that event the Agency shall include in written agreements with such sub-recipients a requirement that records of the sub-recipient be open to inspection and audit by the City or the City's designee to the same extent as those of the Agency.

  • Books Records and Accounting The General Partner shall keep or cause to be kept at the registered office of the Partnership appropriate books and records with respect to the Partnership’s activities and affairs. Any books and records maintained by or on behalf of the Partnership in the regular course of its activities and undertakings, including the record of the Record Holders, books of account and records of Partnership proceedings, may be kept on information storage devices, provided, that the books and records so maintained are convertible into clearly legible written form within a reasonable period of time. The books of the Partnership shall be maintained, for financial reporting purposes, on an accrual basis in accordance with IFRS-IASB. In accordance with Bermuda Law, the records of account and registers will be kept available for inspection by any Limited Partner or its duly authorized representatives during regular business hours at the registered office of the Partnership. Limited Partners shall not have access to any information of the Partnership contained in its books and records which the General Partner is required by legal or contractual restriction to keep confidential or which, in the opinion of the General Partner, acting reasonably, should be kept confidential in the interests of the Partnership or may be kept confidential as provided in this Agreement, and each Limited Partner hereby waives any right to greater access to the books and records of the Partnership than is permitted herein, to the greatest extent permitted by Law.

  • Accounting and Audits Criteria Architect must establish and maintain books, records, and systems of account, in accordance with generally accepted accounting principles, reflecting all business operations of Criteria Architect transacted under this Agreement. Criteria Architect shall retain these books, records, and systems of account during the Term of this Agreement and for three (3) years thereafter. Pursuant to Government Code Section 8546.7, this Agreement is subject to examination and audit of the State Auditor as specified in the code. Criteria Architect shall permit the Judicial Council, its agent, other representatives, or an independent auditor to audit, examine, and make excerpts, copies, and transcripts from all books and original records, and to make audit(s) of all billing statements, invoices, original records, and other data related to the Services covered by this Agreement. Audit(s) may be performed at any time, provided that the Judicial Council shall give reasonable prior Notice to Criteria Architect and will conduct audit(s) during Criteria Architect’s normal business hours, unless Criteria Architect otherwise consents. If an audit or Judicial Council internal review reveals that the Criteria Architect and/or its Subconsultant(s) have overcharged the Judicial Council, Criteria Architect will immediately pay to the Judicial Council the overcharged amount plus interest from the date of receipt of overpayment. The rate of interest will be equal to eighteen percent (18%) per year, or the maximum rate permitted by applicable law, whichever is less. The audit or Judicial Council internal review will be conducted at the Judicial Council’s expense, unless the audit or review reveals that the Criteria Architect and/or its Subconsultant(s) has overcharged the Judicial Council by ten percent (10%) or more on any invoice, in which case the Criteria Architect will reimburse the Judicial Council for all costs and expenses incurred by the Judicial Council in connection with such audit or review, including direct and indirect costs associated with Judicial Council representatives. This remedy shall not be exclusive to any other remedies available to the Judicial Council including, without limitation, a claim against the Criteria Architect for a False Claim pursuant to the False Claims Act (Gov. Code § 12650, et seq.) IMS/Monetary Penalties. The Judicial Council shall be entitled to remedy any “False Claims,” as defined in California Government Code section 12650 et seq., made to the Judicial Council by the Criteria Architect or any Sub-Consultant under the standards set forth in Government Code section 12650 et seq. Any Criteria Architect or Sub-Consultant who submits a False Claim shall be liable to the Judicial Council for three (3) times the amount of damages that the Judicial Council sustains from the False Claim. If Criteria Architect and/or Sub-Consultant submits a False Claim, they shall also be liable to the Judicial Council for: (a) the costs, including attorney fees, of a civil action brought to recover any of those penalties or damages, and (b) a civil penalty of up to $10,000 for each false claim. Accounting System Requirements. Criteria Architect shall maintain and shall ensure that its Sub-Consultant(s) maintain, an adequate system of accounting and internal controls that meets GAAP. The obligations of this Section shall survive the expiration of and any termination of this Agreement.

  • Auditing The Managers shall at all times maintain and keep true and correct accounts and shall make the same available for inspection and auditing by the Owners at such times as may be mutually agreed. On the termination, for whatever reasons, of this Agreement, the Managers shall release to the Owners, if so requested, the originals where possible, or otherwise certified copies, of all such accounts and all documents specifically relating to the Vessel and her operation.

Time is Money Join Law Insider Premium to draft better contracts faster.