Audit and Records Sample Clauses
The 'Audit and Records' clause grants one party the right to review and inspect the financial records and supporting documentation of the other party, typically to verify compliance with the terms of an agreement. This clause often specifies the types of records subject to audit, the notice period required before an audit, and the frequency or limitations on such reviews. Its core practical function is to ensure transparency and accountability, helping to prevent fraud, misreporting, or misuse of funds by allowing for independent verification of financial activities related to the contract.
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Audit and Records. A. The Contractor (and Contractor’s suppliers, vendors, subcontractors, insurance agents and other agents) shall maintain and the OWNER shall have the right to examine books, records, documents, accounting procedures and practices and any other supporting evidence deemed necessary by the OWNER to substantiate compliance with the terms of this Contract, including, but not limited to, costs and charges of whatever nature related to, incurred, and/or anticipated to be incurred, in the performance of this Contract. Such right of examination shall include inspection at all reasonable times of the Contractor’s office or facilities or such parts thereof as may be engaged in the performance of this Contract, and reasonable access to and cooperation by all Contractor personnel who have worked on or have knowledge related to the performance of this Contract.
B. The OWNER and its Authorized Representative shall have the right to examine all books, records, documents, and any other data of the Contractor related to the negotiation, pricing, or performance of such Contract, including Change Orders and/or Supplemental Agreements for the purpose of evaluating the accuracy, completeness, and currentness of the cost or pricing data submitted. The right of examination shall extend to all documents necessary to permit adequate evaluation of the cost or pricing data submitted, along with computations and projections used therein. Proprietary/Trade Secret information pertaining to this contract may not be withheld from OWNER or its Authorized Representative.
C. The Contractor’s, subcontractor’s and related agent and vendor organization’s documents, records and other evidence shall be subject to inspection and/or reproduction by the OWNER, its agents and Designative Representatives. Contractor, subcontractor, and related agent and vendor organizations shall provide the OWNER with retrievals of computer based records or transactions that the OWNER determines to be necessary to conduct the audit. There shall be no charge to the OWNER for reasonable user of the Contractor’s or subcontractor’s photocopy machine while conducting the audit, nor for any cost of retrieving, downloading to diskette, and/or printing any records or transactions stored in magnetic optical, microfilm, or other media. The Contractor, subcontractor, and related agent and vendor organizations shall provide all records and retrievals requested, within seven (7) calendar days. If requested, the Contractor shall ...
Audit and Records a. Financial records, supporting documents, statistical records, and other records pertinent to this award shall be retained by the awardee for a period of three years from submission of the final project and expenditure reports specified in Articles 15 and 16.
1. Records that relate to audits, appeals, litigation or the settlement of claims arising out of the performance of the project shall be retained until such audits, appeals, litigation or claims have been disposed of.
2. Records relating to projects subject to special project income provisions shall be retained until three years from the end of the awardee's fiscal year in which the award requirement for reporting income expires.
b. Unless court action or audit proceedings have been initiated, the awardee may substitute microfilm copies of original records.
c. The Director of the National Science Foundation and the Comptroller General of the U.S., or any of their duly authorized representatives, shall have access to any pertinent books, documents, papers and records of the awardee organization and of the performing organization, if different, to make audits, examinations, excerpts and transcripts. Further, any negotiated contract in excess of the simplified acquisition threshold (currently $100,000) made by the awardee shall include a provision to the effect that the awardee, the Director of the National Science Foundation, the Comptroller General of the U.S., or any of their duly authorized representatives, shall have access to pertinent records for similar purposes.
d. In order to avoid duplicate record keeping, NSF may make special arrangements with the awardee to retain any records that are needed for joint use. NSF may request transfer to its custody of records not needed by the awardee when it determines that the records possess long-term retention value. When the records are transferred to, or maintained by NSF, the three-year retention requirement is not applicable to the awardee. In the rare event that this provision is exercised, NSF will negotiate a mutually agreeable arrangement with the awardee regarding reimbursement of costs.
e. Awardees that are States, Local Governments or Non-Profit Organizations, shall arrange for the conduct of audits as required by OMB Circular A-133 “Audits of States, Local Governments, and Non-Profit Organizations” (including colleges and universities.) They shall provide copies of the reports of these audits to the cognizant Federal audit agency. Any Federal ...
Audit and Records a. Financial records, supporting documents, statistical records and other records pertinent to this award must be retained by the awardee for a period of three years from award financial closeout as described in PAPPG Chapter VII.E, except as noted in 2 CFR §200.334.
b. The awardee shall arrange for the conduct of audits as required by 2 CFR §200 Subpart
Audit and Records. 7.1 Project Sponsor or its assignee shall keep and maintain accurate and detailed records and documentation relating to the Project and its associated Peak Demand Savings and Energy Savings under this Agreement for a period of not less than three (3) years beyond the termination of this Agreement. During the retention period, such records shall be made available at the offices of the Project Sponsor or other mutually agreeable location, upon reasonable notice, for inspection during normal business hours by TNMP or any governmental agency having jurisdiction over the SOP or any portion of the Project.
Audit and Records. During the progress of the Work and for a period of not less than six (6) years from the date of final payment, both Parties shall maintain the records and accounts pertaining to the Work and shall make them available during normal business hours and as often as necessary, for inspection and audit by the other Party, State of Washington, and/or Federal Government and copies of all records, accounts, documents or other data pertaining to the Work will be furnished upon request. The requesting Party shall pay the cost of copies produced. If any litigation, claim or audit is commenced, the records and accounts along with supporting documentation shall be retained until any litigation, claim or audit finding has been resolved even though such litigation, claim or audit continues past the six-year retention period.
Audit and Records. The Grantee shall maintain records and documents relating to the performance of the MOU and shall keep all such records and documents for three (3) years after the completion of the agreement, and shall make such records available for inspection and audit by authorized representatives of DORS and the State of Maryland.
Audit and Records a. Financial records, supporting documents, statistical records and other records pertinent to this award must be retained by the awardee for a period of three years from award financial closeout as described in PAPPG Chapter VIII.E, except as noted in 2 CFR § 200.333.
b. Awardees shall arrange for the conduct of audits as required by 2 CFR § 200 Subpart F. They shall provide copies of the reports of these audits to the Federal Audit Clearinghouse (see 2 CFR § 200.512(b)). Any Federal audit of this project deemed necessary by NSF shall build upon the results of such audit(s).
c. All awards issued by NSF meet the definition of “Research and Development” (R&D) at 2 CFR § 200.87. As such, auditees should identify NSF awards as part of the R&D cluster on the Schedule of Expenditures of Federal Awards (SEFA). The auditor should test NSF awards for compliance as instructed in Part V, Clusters of Programs. NSF recognizes that some awards may have another classification for purposes of indirect costs. The auditor is not required to report the disconnect (i.e., the award is classified as R&D for audit purposes but non-research for indirect cost rate purposes), unless the auditee is charging indirect costs at a rate other than the rate(s) specified in the award document(s).
Audit and Records. 5.1 Cloudflare shall, in accordance with Applicable Data Protection Laws, make available to Customer such information in Cloudflare’s possession or control as Customer may reasonably request with a view to demonstrating Cloudflare’s compliance with the obligations of Processors under Applicable Data Protection Laws in relation to its processing of Personal Data.
5.2 Cloudflare may fulfill Customer’s right of audit under Applicable Protection Laws in relation to Personal Data, by providing:
(a) an audit report not older than thirteen (13) months, prepared by an independent external auditor demonstrating that Cloudflare’s technical and organizational measures are sufficient and in accordance with an accepted industry audit standard;
(b) additional information in Cloudflare’s possession or control to a data protection supervisory authority when it requests or requires additional information in relation to the processing of Personal Data carried out by Cloudflare under this DPA; and
(c) To the extent that Customer’s Personal Data is subject to the EU SCCs and the information made available pursuant to this clause 5.2 is insufficient, in Customer’s reasonable judgment, to confirm Cloudflare’s compliance with its obligations under this DPA or Applicable Data Protection Laws, then Cloudflare shall enable Customer to request one onsite audit per annual period during the Term (as defined in the Main Agreement) to verify Cloudflare’s compliance with its obligations under this DPA in accordance with clause 5.3.
5.3 The following additional terms shall apply to audits the Customer requests:
(a) Customer must send any requests for reviews of Cloudflare’s audit reports to ▇▇▇▇▇▇▇▇-▇▇▇▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇.▇▇▇.
(b) Following receipt by Cloudflare of a request for audit under clause 5.2(c), Cloudflare and Customer will discuss and agree in advance on the reasonable start date, scope, duration of, and security and confidentiality controls applicable to any audit under clause 5.2(c). Whenever possible, evidence for such an audit will be limited to the evidence collected for Cloudflare’s most recent third-party audit.
(c) Cloudflare may charge a fee (based on Cloudflare’s reasonable costs) for any audit under clause 5.2(c). Cloudflare will provide Customer with further details of any applicable fee, and the basis of its calculation, in advance of any such audit. Customer will be responsible for any fees charged by any auditor appointed by Customer to execute any such audit.
(d)...
Audit and Records a. CITY must maintain, and shall require their contractors to maintain, in accordance with generally accepted accounting principles and practices, complete books, accounts, records and data pertaining to services performed under this AGREEMENT, including the costs of contract administration. Such documentation must be supported by properly executed payrolls, invoices, contracts, and vouchers evidencing in detail the nature and propriety of any charges and must be sufficient to allow a proper audit of services. All checks, payrolls, invoices, contracts and other accounting documents pertaining in whole or in part to the services must be clearly identified and readily accessible.
b. For the duration of the AGREEMENT, and for a period of five (5) years after final payment, VTA shall have access during normal business hours to any books, accounts, records, data, and other relevant documents that are pertinent to this AGREEMENT for audits, examinations, excerpts, and transactions and copies thereof must be furnished upon request.
Audit and Records. VIII.1 The Project Sponsor shall keep and maintain accurate and detailed records and documentation relating to the Project and its associated Demand Savings and Energy Savings under this Agreement for a period of not less than three (3) years beyond the termination of this Agreement. During the retention period, such records shall be made available, upon reasonable notice, for inspection during normal business hours by Xcel Energy or any governmental agency having jurisdiction over the Commercial Standard Offer Program or any portion of the Project.