Audit and Control Sample Clauses

The Audit and Control clause grants one party the right to review and examine the records, processes, or systems of the other party to ensure compliance with contractual obligations. Typically, this clause outlines the scope of audits, the notice period required before an audit, and the types of records subject to inspection, such as financial documents or data security logs. Its core practical function is to provide transparency and accountability, helping to detect errors, prevent fraud, and ensure that both parties adhere to agreed standards and requirements.
Audit and Control. 10.1. The Employer accepts that the operation will be subject to checks and controls (documentary and/or on site and including but not limited to physical checks and recorded telephone checks) undertaken by the IB, Managing Authority and/or its representatives, in accordance with national/ European Union procedures and/or laws. 10.2. The Employer also accepts that checks and controls may be undertaken by the Certifying Authority and/or other relevant stakeholders in line with national and European Union laws and procedures. 10.3. The Employer also accepts that the operation is also subject to audits carried out by the Audit Authority (Internal Audit and Investigation Department), the European Commission and/or the European Court of Auditors and/or their representatives up to five years after the end date of the project (i.e. the mandatory retention period as per Grant Agreement Section 4). 10.4. Given that the European Structural and Investment Funds are public funds, the Employer, regardless of its status, whether public, private, voluntary or other, also accepts to be subject to audits by the National Audit Office. 10.5. The Employer grants the Managing Authority, the Intermediate Body [Jobsplus], the Certifying Authority, the Audit Authority, the National Audit Office, the European Commission and the European Court of Auditors as well as any and all persons mandated by them and any and all other authorities and/or entities mentioned in the Guidance Notes, the full right of access to ALL documents concerning the implementation of the project, its results and the use of the grant in accordance with the terms and conditions of the present Agreement and those laid down in Council Regulation (EC) No. 1303/2013 and the Implementing Commission Regulation resulting from it and their subsequent amendments. Jobsplus and/or other relevant Authorities reserve the right to check and verify any banking transactions related to subsidies paid for the said Aid Programme. 10.6. The Employer agrees to allow the MA and/or any and all other organisations mentioned above and their representatives, the appropriate physical or other right/means of access to sites and premises where the action is carried out and to all the information, including information in electronic format, needed in order to conduct such checks/audits as outlined in this Article. 10.7. During the carrying out of checks/controls and audits, the Employer shall ensure that the responsible person in relation ...
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Audit and Control. The Audit and Control sector renders to THE PARTIES the services consisting in Administration and management of master data, including loading such data to THE PARTIES’ systems; Prevention of corporate fraud; THE PARTIES’ Internal Audit and the ▇▇▇▇▇▇▇▇-▇▇▇▇▇ Process Management.
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Audit and Control. The Audit and Control sector renders to THE PARTIES the services of Prevention of corporate fraud; THE PARTIES’ Internal Audit and the ▇▇▇▇▇▇▇▇-▇▇▇▇▇ Process Management.
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Audit and Control. The Government of Malta is responsible for the financial control and audit of approved projects. In accordance with Article 6.2 of the Rules and Procedures and as listed above, the Focal Point is responsible for ensuring that projects are implemented in line with established financial control procedures and sound financial management. The Focal Point will carry out spot checks and ensure follow-up of any action needed following the spot check. An audit trail will be prepared by the Internal Audit and Investigations Directorate in collaboration with the Focal Point. Audits will be conducted by the Internal Audit and Investigations Directorate (IAID) within the Office of the Prime Minister. IAID is completely independent from management (Focal Point). The IAID will prepare the annual audit plan and a summary of audit reports (of each year). These documents will be transmitted to the FMO by the Focal Point. In line with article 6.2 of the Rules of Procedures, the National Audit Office (Supreme Audit Institution) shall have the right to carry out audits on projects in line with national procedures. In addition, the Focal Point will have the duty to provide the FMO with a copy of any other report that is made by itself, the IAID or the National Audit Office on projects or other activities related to the financial mechanisms.
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Audit and Control. The responsible auditing bodies of the EU, the Audit Authority of the Programme and the group of auditors are entitled to audit the proper use of funds by the partners. The Lead Partner is obliged to contract a competent body/organization which shall perform audit on project expenditures. The audit report must be produced by an auditor, who is a member of internationally recognized supervisory body for statutory auditing. The audit report must be attached to the final report of the project. The Managing Authority is entitled to verify and to control the proper use of funds by the Lead Partner and its partners through Controllers. The verifications to be carried out shall cover administrative, financial, technical and physical aspects of project implementation, as appropriate. The Managing Authority may delegate tasks to the National Authority, therefore the National Authority may act in the name and on behalf of Managing Authority as far as items 1 and 3 is concerned. In accordance with Article 108 of Regulation (EC) No 718/2007, national controllers are designated by each participating country to verify the legality and regularity of the expenditure declared by each project partner participating. The controls may include on-the spot checks, ex-ante and ex-post checks of documentation or other proof regarding specific project outputs and/or results. The Lead Partner shall ensure that expenditures of each partner have been verified and ensure that the expenditures are in accordance with national and Community control requirements. The Lead Partner and its partners will produce all documents required for the audit, control or evaluation, will provide ne­cessary information and give access to its business premises, will allow performing of measurements and investigations related to the project, auditing of accounting documents and other documentation for a period of three years following the closure of the Programme.
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Audit and Control. 4.7.1 THE ENFORCEMENT AUTHORITY shall enforce on the OPERATOR and/or THE CONCESSIONAIRE a broad police power, without restrictions or need of prior notice, through the Hydrocarbons Police Force established by Provincial Law Q No. 2627, as regulated. Such entity is empowered to issue Inspection and/or Violation Reports, for the purpose of verifying compliance with the tasks of exploration, exploitation, and transportation of hydrocarbons in the Province of Rio Negro, thus guaranteeing compliance with the contractual obligations, and with the legal, regulatory, and technical standards applicable to the activity. 4.7.2 In all cases, the Inspection and Violation Reports issued by the Hydrocarbons Police Force and received by the personnel affected to the operation of the AREA, regardless of the contractual relationship with the CONCESSIONAIRE, shall be considered a self-proving notice for the purposes of this AGREEMENT. 4.7.3 The ENFORCEMENT AUTHORITY may request from the CONCESSIONAIRE additional/expanding documentation or information that it deems pertinent for control and supervision. It may also carry out audits it deems necessary, on its own account or on behalf of authorized third parties. 4.7.4 The CONCESSIONAIRE shall file the required information and shall cooperate with the enforcement of the relevant control activity; it shall also provide the necessary logistics assistance in case of technical difficulties in accessing the areas for such purposes. 4.7.5 The INSPECTION REPORTS shall be an agile communication tool between the operator and/or CONCESSIONAIRE and the ENFORCEMENT AUTHORITY. They can be used both to certify any works that have been carried out in the facilities, and to request information, communicate non-conformities detected during inspections and request consequent adjustments, or to attend to any need of the ENFORCEMENT AUTHORITY to perform its activities correctly. 4.7.6 The CONCESSIONAIRE shall respond and/or carry out the corrective measures observed within the term determined by the reports, or otherwise within 10 business days, as from its notification. 4.7.7 VIOLATION REPORTS shall be drawn up upon detection of a non-compliance which is subject to sanction. In such cases, the CONCESSIONAIRE shall make its disclaimer within 10 business days after notification. The ENFORCEMENT AUTHORITY shall have the power to assess and determine whether the application of a fine for the detected violation is applicable, by commencing the corresp...
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Audit and Control. 1. The Beneficiary agrees to be subject to financial control and/or audit in the field of Project implementation and the provisions of this Agreement, in particular concerning the fulfilment of the conditions set out in Art. 6: 1) in the case of control – by the Programme Operator, NFP, FMC or body authorized to act on their behalf, 2) in case of an audit – by the Audit Authority whose function is performed by the Minister of Finance or other authorized national public entity and the FMC or body authorized to act on his behalf, and the EFTA Board of Auditors. 2. The control and audit are carried out at the premises of the Beneficiary or in the place of the Project implementation. 3. Inspections and audits may be carried out throughout the duration of the Project and five years after its completion, in accordance with Art. 7 (6) of this Agreement. 4. If the applicable law does not provide otherwise, the Beneficiary shall be notified of the planned audit or audit no later than 5 working days prior to the date of their execution. 5. In appropriate cases, in particular, at the request of the Donor or when there is a suspicion of irregularity, inspection or audit may be carried out on an ad hoc basis, without prior notice referred to in para. 4. 6. In terms of control and audit carried out by the FMC or body authorized to act on its behalf, and the EFTA Board of Auditors, the Beneficiary is obliged – upon request of the Programme Operator, NFP or other entity authorized to audit – to enable full and unimpeded access to all information, documents, persons, locations and facilities, public or private, relevant to the implementation of this Agreement. Such access shall be subject to the restrictions imposed by the applicable national law. 7. During the control visit, the Beneficiary ensures the presence of people appropriate to provide information and explanations regarding the implementation of the Project. 8. The Programme Operator shall prepare, within 15 working days after the end of control, the post- control information in a written form. Such a document shall consist of post-control recommendations together with time for their implementation. 9. The Beneficiary may present its views or reservations to the post-control information within the 10 working days from its delivery. In case of no objections, the Beneficiary shall send back one signed copy of the post-control information within 10 working days from its delivery. 10. In case of objections to the post...
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Audit and Control. Art. 74. (1) For the time, for which the Contract is in force, as well as for a period, not less than 5 years as from the expiration of the last Warranty period under the Contract, the CONTRACTOR shall maintain an Archive for all the services, provided under the Contract.
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Audit and Control. Art. 74. (1) For the period this contract is in force as well as for a period not less than 5 years following the expiry of the last warranty term under the contract, THE CONTRACTOR shall be obliged to keep records of all services provided under the Contract.
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Related to Audit and Control

  • Management and Control (a) Management and control of the business of the Fund shall be vested in the Board, which shall have the right, power, and authority, on behalf of the Fund and in its name, to exercise all rights, powers, and authority of managers under the Delaware Act and to do all things necessary and proper to carry out the objective and business of the Fund and their duties hereunder. No Manager shall have the authority individually to act on behalf of or to bind the Fund except within the scope of such Manager's authority as delegated by the Board. The parties hereto intend that, except to the extent otherwise expressly provided herein, (i) each Manager shall be vested with the same powers, authority, and responsibilities on behalf of the Fund as are customarily vested in each director of a Delaware corporation and (ii) each Independent Manager shall be vested with the same powers, authority and responsibilities on behalf of the Fund as are customarily vested in each director of a closed-end Management investment company registered under the 1940 Act that is organized as a Delaware corporation who is not an "interested person" of such company, as such term is defined by the 1940 Act. During any period in which the Fund shall have no Managers, CSFB Alternative Capital, as the initial Member, shall have the authority to manage the business and affairs of the Fund. (b) Members, in their capacity as Members, shall have no right to participate in and shall take no part in the management or control of the Fund's business and shall have no right, power or authority to act for or bind the Fund. Members shall have the right to vote on any matters only as provided in this Agreement or on any matters that require the approval of the holders of voting securities under the 1940 Act or as otherwise required in the Delaware Act. (c) The Board may delegate to any other person any rights, power and authority vested by this Agreement in the Board to the extent permissible under applicable law, and may appoint persons to serve as officers of the Fund, with such titles and authority as may be determined by the Board consistent with applicable law. (d) The Board shall have full power and authority to adopt By-Laws providing for the conduct of the business of the Fund and containing such other provisions as they deem necessary, appropriate or desirable, and, subject to the voting powers of one or more Classes created pursuant to this section 3.1, to amend and repeal such By-Laws. Unless the By-Laws specifically require that Members authorize or approve the amendment or repeal of a particular provision of the By-Laws, any provision of the By-Laws may be amended or repealed by the Board without Member authorization or approval. (e) The Board shall have the full power and authority, without Member approval, to authorize one or more Classes of Units; Units of each such Class having such preferences, voting powers and special or relative rights or privileges (including conversion rights, if any) as the Board may determine and as shall be set forth in a resolution adopted in accordance with the By-Laws.

  • Management and Control Systems Grantee will: 1. maintain an appropriate contract administration system to ensure that all terms, conditions, and specifications are met during the term of the contract through the completion of the closeout procedures. 2. develop, implement, and maintain financial management and control systems that meet or exceed the requirements of Uniform Statewide Accounting System (UGMS). Those requirements and procedures include, at a minimum, the following: i. Financial planning, including the development of budgets that adequately reflect all functions and resources necessary to carry out authorized activities and the adequate determination of costs; ii. Financial management systems that include accurate accounting records that are accessible and identify the source and application of funds provided under each Contract of this Contract, and original source documentation substantiating that costs are specifically and solely allocable to a Contract and its Contract and are traceable from the transaction to the general ledger; iii. Effective internal and budgetary controls; iv. Comparison of actual costs to budget; determination of reasonableness, allowableness, and allocability of costs; v. Timely and appropriate audits and resolution of any findings; vi. Billing and collection policies; and vii. Mechanism capable of billing and making reasonable efforts to collect from clients and third parties.

  • Format and Content 51.2.1 Unless otherwise specified by CenturyLink, the forecasting forms located on the CenturyLink Wholesale Website will be used by CLEC for the requirements of this Section. 51.2.2 The joint planning process/negotiations should be completed within two (2) months of the initiation of such discussion. 51.2.3 Description of major network projects that affect the other Party will be provided in the semi-annual forecasts. Major network projects include but are not limited to trunking or network rearrangements, shifts in anticipated traffic patterns, or other activities by CLEC that are reflected by a significant increase or decrease in trunking demand for the following forecasting period. 51.2.4 Parties shall meet to review and reconcile the forecasts if forecasts vary significantly. 51.2.5 CLEC shall provide an updated trunk forecast when ordering or requesting additional trunks from CenturyLink anytime after the initial trunk implementation.

  • Project Management Services Contractor shall provide business analysis and project management services necessary to ensure technical projects successfully meet the objectives for which they were undertaken. Following are characteristics of this Service:

  • Financial Management; Financial Reports; Audits 1. The Recipient shall ensure that a financial management system is maintained in accordance with the provisions of Section 2.07 of the Standard Conditions. 2. The Recipient shall ensure that interim unaudited financial reports for the Project are prepared and furnished to the World Bank not later than forty five (45) days after the end of each calendar quarter, covering the quarter, in form and substance satisfactory to the World Bank. 3. The Recipient shall have its Financial Statements for the Project audited in accordance with the provisions of Section 2.07(b) of the Standard Conditions. Each such audit of the Financial Statements shall cover the period of one fiscal year of the Recipient. The audited Financial Statements for each such period shall be furnished to the World Bank not later than six (6) months after the end of such period.