Audit Discrepancies Clause Samples

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Audit Discrepancies. An Employer will be notified of any discrepancies revealed during the audit of its books and records. If an Employer has not made the required payment or submitted documentation to clarify discrepancies to the Fund Office within ten (10) Days' after receipt of the audit billing, Section 3 of this Agreement will be enforced. An Employer will be responsible for the audit fee when billed charges exceed $1,000.00 or all records indicated in Section 8 are not made available to the auditor on the scheduled audit date.
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Audit Discrepancies. If an audit reveals that MetroPCS breached its obligations to Supplier under a Service Addendum or Statement of Work in the manner described in the applicable Service Addendum or Statement of Work, then MetroPCS may be obligated to reimburse Supplier *** as provided in such Service Addendum or Statement of Work, and Supplier shall be entitled to exercise any other legal and equitable remedies available to Supplier under this Agreement (including the applicable Service Addendum or Statement of Work) or applicable Law. If an audit reveals that Supplier improperly invoiced MetroPCS for Services, or breached its obligations to MetroPCS under a Service Addendum or Statement of Work in the manner described in the applicable Service Addendum or Statement of Work, then: (a) Supplier may be obligated to reimburse MetroPCS *** as provided in such Service Addendum or Statement of Work, (b) *** ; and (c) MetroPCS shall be entitled to exercise any other legal and equitable remedies available to MetroPCS under this Agreement (including the applicable Service Addendum or Statement of Work) or applicable Law. Long Distance MSA -23-
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Audit Discrepancies. Additionally, if an audit reveals a discrepancy of more than five percent (5%) between the amounts due as reported by ▇▇▇▇▇▇ and the amounts due as determined by the audit, or Tenant has failed to maintain complete and accurate books of account, records, financial statements, and documentation in accordance with this Lease, then Tenant shall pay the cost of the audit, as reasonably determined by Landlord, plus the amounts determined to have been underpaid. In addition, should Tenant fail to pay the amounts due within thirty (30) days after written notice from Landlord, then Tenant shall pay an additional fee of ten percent (10%) of the unpaid amounts as compensation to Landlord for administrative costs and lost interest, along with the amount determined to have been underpaid. Furthermore, if the audit reveals that amounts due to Landlord is less than five percent (5%) of the amount reported and previously paid by Tenant, and should Tenant fail to pay such amount due within thirty (30) days after written notice from Landlord, then Tenant shall pay an additional fee of ten percent (10%) of the unpaid amount as compensation to Landlord for administrative costs as set forth above, along with the amount determined to have been underpaid. ▇▇▇▇▇▇ agrees to pay such amounts and further agrees that the specific late charges represent a fair and reasonable estimate of the costs that Landlord will incur from Tenant’s late payment. Acceptance of late charges and any portion of the late payment by Landlord without receipt of the applicable overdue amount shall in no event constitute a waiver of Tenant default with respect to late payment, nor prevent Landlord from exercising any of the other rights and remedies granted in this Lease. Landlord shall have the right to waive for good cause any late charges upon written application of Tenant for any such delinquency period.
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Audit Discrepancies. Discrepancies discovered during audit processes will be documented and the Authorised Officer may ask for further clarification from the FDM regarding the circumstances under which these arose. The CRB and FDM will be given the opportunity to comment upon any adverse observations made as a result of audit. Observations and comments may be documented and presented to the Chief Officer of The Force for consideration.
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Related to Audit Discrepancies

  • Discrepancies The Contractor shall resolve all order and invoice discrepancies (e.g., shortages, breakages, etc.) within five (5) business days from notification.

  • Resolution of Discrepancies In the event of any discrepancy between the information set forth in any report provided by the Custodian to the Company and any information contained in the books or records of the Company, the Company shall promptly notify the Custodian thereof and the parties shall cooperate to diligently resolve the discrepancy.

  • Audit Notwithstanding any other audit requirement, H-GAC reserves the right to conduct or cause to be conducted an independent audit of any transaction under this Agreement, such audit may be performed by the H-GAC local government audit staff, a certified public accountant firm, or other auditors designated by H-GAC and will be conducted in accordance with applicable professional standards and practices. The Contractor understands and agrees that the Contractor shall be liable to the H-GAC for any findings that result in monetary obligations to H-GAC.

  • AUDIT REVIEW PROCEDURES A. Any dispute concerning a question of fact arising under an interim or post audit of this AGREEMENT that is not disposed of by AGREEMENT, shall be reviewed by LOCAL AGENCY’S Chief Financial Officer. B. Not later than thirty (30) calendar days after issuance of the final audit report, CONSULTANT may request a review by LOCAL AGENCY’S Chief Financial Officer of unresolved audit issues. The request for review will be submitted in writing. C. Neither the pendency of a dispute nor its consideration by LOCAL AGENCY will excuse CONSULTANT from full and timely performance, in accordance with the terms of this AGREEMENT. D. CONSULTANT and subconsultant AGREEMENTs, including cost proposals and Indirect Cost Rates (ICR), may be subject to audits or reviews such as, but not limited to, an AGREEMENT audit, an incurred cost audit, an ICR Audit, or a CPA ICR audit work paper review. If selected for audit or review, the AGREEMENT, cost proposal and ICR and related work papers, if applicable, will be reviewed to verify compliance with 48 CFR Part 31 and other related laws and regulations. In the instances of a CPA ICR audit work paper review it is CONSULTANT’s responsibility to ensure federal, LOCAL AGENCY, or local government officials are allowed full access to the CPA’s work papers including making copies as necessary. The AGREEMENT, cost proposal, and ICR shall be adjusted by CONSULTANT and approved by LOCAL AGENCY Contract Administrator to conform to the audit or review recommendations. CONSULTANT agrees that individual terms of costs identified in the audit report shall be incorporated into the AGREEMENT by this reference if directed by LOCAL AGENCY at its sole discretion. Refusal by CONSULTANT to incorporate audit or review recommendations, or to ensure that the federal, LOCAL AGENCY or local governments have access to CPA work papers, will be considered a breach of AGREEMENT terms and cause for termination of the AGREEMENT and disallowance of prior reimbursed costs. E. CONSULTANT’s Cost Proposal may be subject to a CPA ICR Audit Work Paper Review and/or audit by the Independent Office of Audits and Investigations (IOAI). IOAI, at its sole discretion, may review and/or audit and approve the CPA ICR documentation. The Cost Proposal shall be adjusted by the CONSULTANT and approved by the LOCAL AGENCY Contract Administrator to conform to the Work Paper Review recommendations included in the management letter or audit recommendations included in the audit report. Refusal by the CONSULTANT to incorporate the Work Paper Review recommendations included in the management letter or audit recommendations included in the audit report will be considered a breach of the AGREEMENT terms and cause for termination of the AGREEMENT and disallowance of prior reimbursed costs. 1. During IOAI’s review of the ICR audit work papers created by the CONSULTANT’s independent CPA, IOAI will work with the CPA and/or CONSULTANT toward a resolution of issues that arise during the review. Each party agrees to use its best efforts to resolve any audit disputes in a timely manner. If IOAI identifies significant issues during the review and is unable to issue a cognizant approval letter, LOCAL AGENCY will reimburse the CONSULTANT at an accepted ICR until a FAR (Federal Acquisition Regulation) compliant ICR {e.g. 48 CFR Part 31; GAGAS (Generally Accepted Auditing Standards); CAS (Cost Accounting Standards), if applicable; in accordance with procedures and guidelines of the American Association of State Highways and Transportation Officials (AASHTO) Audit Guide; and other applicable procedures and guidelines}is received and approved by IOAI. Accepted rates will be as follows: a. If the proposed rate is less than one hundred fifty percent (150%) - the accepted rate reimbursed will be ninety percent (90%) of the proposed rate. b. If the proposed rate is between one hundred fifty percent (150%) and two hundred percent (200%) - the accepted rate will be eighty-five percent (85%) of the proposed rate. c. If the proposed rate is greater than two hundred percent (200%) - the accepted rate will be seventy-five percent (75%) of the proposed rate. 2. If IOAI is unable to issue a cognizant letter per paragraph E.1. above, IOAI may require CONSULTANT to submit a revised independent CPA-audited ICR and audit report within three (3) months of the effective date of the management letter. IOAI will then have up to six (6) months to review the CONSULTANT’s and/or the independent CPA’s revisions. 3. If the CONSULTANT fails to comply with the provisions of this paragraph E, or if IOAI is still unable to issue a cognizant approval letter after the revised independent CPA audited ICR is submitted, overhead cost reimbursement will be limited to the accepted ICR that was established upon initial rejection of the ICR and set forth in paragraph E.1. above for all rendered services. In this event, this accepted ICR will become the actual and final ICR for reimbursement purposes under this AGREEMENT. 4. CONSULTANT may submit to LOCAL AGENCY final invoice only when all of the following items have occurred: (1) IOAI accepts or adjusts the original or revised independent CPA audited ICR;

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