AUDIT AND ACCOUNTING RESPONSIBILITIES Sample Clauses

The "Audit and Accounting Responsibilities" clause defines the obligations of the parties regarding the maintenance, access, and review of financial records related to the agreement. Typically, it requires one or both parties to keep accurate and complete accounting records and may grant the other party the right to audit these records periodically to ensure compliance with contractual terms. This clause helps ensure transparency and accountability in financial dealings, reducing the risk of errors or fraud and facilitating the resolution of any disputes over payments or financial performance.
AUDIT AND ACCOUNTING RESPONSIBILITIES. 3.1. The Subrecipient shall comply with all applicable federal audit requirements, including but not limited to those in 2 CFR § 200 Subpart F or 45 CFR § 75 Subpart F; an audit required by these regulations must be prepared and issued by an independent auditor in accordance with generally accepted government auditing standards. A copy of the audit is to be made electronically available or sent to: Nebraska Department of Health and Human Services, Financial Services, ▇.▇. ▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇-▇▇▇▇. 3.2. Subrecipient shall comply with 2 CFR §§ 200.508 through 200.512 or 45 CFR §§ 75.508 through 75.512, as applicable, including but not limited to: (a) procure or otherwise arrange for the audit required by this part in accordance with § 200.509 (§ 75.509), and ensure it is properly performed and submitted when due in accordance with § 200.512 (§ 75.512); (b) prepare appropriate financial statements, including the schedule of expenditures of Federal awards in accordance with § 200.510 (§ 75.510); (c) promptly follow up and take corrective action on audit findings, including preparation of a summary schedule of prior audit findings and a corrective action plan in accordance with § 200.511 (§ 75.511); (d) provide the auditor with access to personnel, accounts, books, records, supporting documentation, and other information as needed for the auditor to perform the audit required by law. 3.3. In addition to, and in no way in limitation of any obligation in this Subaward, Subrecipient shall be liable for audit exceptions, and shall return to DHHS all payments made under this Subaward for which an exception has been taken or that has been disallowed because of such an exception, upon demand from DHHS. 3.4. The Subrecipient shall maintain its accounting records in accordance with generally accepted accounting principles. DHHS reserves the right to require Subrecipient to submit required financial reports on the accrual basis of accounting. If Subrecipient’s records are not normally kept on the accrual basis, Subrecipient is not required to convert its accounting system but shall develop and submit in a timely manner such accrual information through an analysis of the documentation on hand (such as accounts payable).
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AUDIT AND ACCOUNTING RESPONSIBILITIES. 22.1. Grantee shall comply with all applicable federal audit requirements, including, but not limited to, those in 2 CFR Part 200 Subpart F or 45 CFR Part 75 Subpart F. An audit required by these regulations must be prepared and issued by an independent auditor in accordance with generally accepted government auditing standards. A copy of the audit is to be made electronically available or sent to: ▇▇▇▇.▇▇▇▇▇▇@▇▇▇▇▇▇▇▇.▇▇▇ (a) procure or otherwise arrange for the audit required by 2 CFR Part 200 Subpart F or 45 CFR Part 75 Subpart F, in accordance with 2 CFR § 200.509 or 45 CFR § 75.509, and ensure it is properly performed and submitted when due in accordance with 2 CFR § 200.512 or 45 CFR § 75.512); (b) prepare appropriate financial statements, including the schedule of expenditures of federal awards in accordance with 2 CFR § 200.510 or 45 CFR § 75.510; (c) promptly follow up and take corrective action on audit findings, including preparation of a summary schedule of prior audit findings and a corrective action plan in accordance with 2 CFR § 200.511 or 45 CFR § 75.511; and (d) provide the auditor with access to personnel, accounts, books, records, supporting documentation, and other information as needed for the auditor to perform the audit required by 2 CFR Part 200 Subpart F or 45 CFR Part 75 Subpart F.
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Related to AUDIT AND ACCOUNTING RESPONSIBILITIES

  • Reporting Responsibilities The IRA Owner agrees to provide the Custodian with information necessary for the Custodian to prepare any reports required under Code Sections 408(i), 408A(d)(3)(D), and Regulations Sections 1.408-5 and 1.408-6. The Custodian agrees to submit reports to the IRS and the IRA Owner (or Beneficiary(ies) upon the IRA Owner’s death) as prescribed by the IRS and such additional reports as the Custodian may choose to deliver. The Custodian shall furnish annual calendar-year reports concerning the status of the IRA and such information concerning required minimum distributions as is prescribed by the Commissioner of the IRS.

  • Client’s Responsibilities The Client’s responsibilities include the following: a. Enrolling. The Client must complete the Informed Consent for Collection and Storage (attached as Schedule 1) The Client must complete or facilitate the Gestational Carrier’s and if applicable, Egg Donor’s completion of the Health History Questionnaire and the Informed Consent to Testing of the Maternal Sample provided by ViaCord. For ▇▇▇▇ ▇▇▇▇▇▇▇ collected in New York State, where possible, the Child’s biological father should also complete a Health History Questionnaire. Generally, for Newborn Stem Cells to be used in treatment, the healthcare provider will need information about the Gestational Carrier and if applicable, Egg Donor. The Health History Questionnaire(s) provides much of the required information.Complete and accurate information is critical to Release and use of Newborn Stem Cells. If You do not provide a completed Health History Questionnaire(s) from the Gestational Carrier and if applicable, Egg Donor, VPL may be unable to Release the Newborn Stem Cells. In addition, if any information provided in the ViaCord Services Agreement or any of the Health History Questionnaire(s) is incomplete or incorrect, it is the Client’s responsibility to notify ViaCord and correct that information immediately.

  • Monitoring Responsibilities The Custodian shall furnish annually to the Fund, during the month of June, information concerning the foreign sub-custodians employed by the Custodian. Such information shall be similar in kind and scope to that furnished to the Fund in connection with the initial approval of this Contract. In addition, the Custodian will promptly inform the Fund in the event that the Custodian learns of a material adverse change in the financial condition of a foreign sub-custodian or any material loss of the assets of the Fund or in the case of any foreign sub-custodian not the subject of an exemptive order from the Securities and Exchange Commission is notified by such foreign sub-custodian that there appears to be a substantial likelihood that its shareholders' equity will decline below $200 million (U.S. dollars or the equivalent thereof) or that its shareholders' equity has declined below $200 million (in each case computed in accordance with generally accepted U.S. accounting principles).

  • Legal and Accounting Services The Company may obtain legal and accounting services to the extent reasonably necessary for the conduct of the Company's business.

  • Engineer Responsibilities No subcontract relieves the Engineer of any responsibilities under this contract.