Common use of Accounting Systems Clause in Contracts

Accounting Systems. The Company maintains a system of internal accounting controls sufficient to provide reasonable assurance that (i) material transactions are executed in accordance with management’s general or specific authorization, (ii) material transactions are recorded as necessary to permit preparation of financial statements in conformity with GAAP, and to maintain asset accountability, (iii) access to assets is permitted only in accordance with management’s general or specific authorization and (iv) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any material differences.

Accounting Systems. The Each of the Company and its Subsidiaries maintains a system of internal accounting controls sufficient to provide reasonable assurance that (ia) material transactions are executed in accordance with management’s general or specific authorizationauthorizations, (iib) material transactions are recorded as necessary to permit preparation of financial statements in conformity with GAAP, GAAP and to maintain asset accountability, and (iiic) access to assets is permitted only in accordance with management’s general or specific authorization and (iv) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any material differencesauthorization.