Common use of Audit Planning Clause in Contracts

Audit Planning. 3.1 Customers will be contacted by phone and notified of the intention to audit. An official notification will then be issued by e-mail stating the agreed audit date and outlining the scope of the audit. 3.2 Both the auditor and the audited party should co-operate in planning the audit (e.g. by exchange of correspondence and/or meetings) to ensure that: a) the period, timing, product(s), scope and location(s) subject to audit are identified; b) all records necessary for the audit are identified and made available for inspection, including; 1. Enablement reports from permissioning systems for the entire audit period. 2. All datafeed access declarations submitted to vendors during the audit period. 3. A list of all users considered to be non chargeable and details of their role. 4. Copies of Private Investor declarations (where applicable). 5. A technical overview of the market data infrastructure. c) adequate resources and time are allowed for the audit; d) the auditor has sufficient access to relevant staff and any necessary data; e) audit enquiries and pre-audit information requests are promptly addressed by both parties; f) procedures for closing the audit are communicated.

Audit Planning. ‌ 3.1 Customers will be contacted by phone and notified of the intention to audit. An official notification will then be issued by e-mail stating the agreed audit date and outlining the scope of the audit. 3.2 Both the auditor and the audited party should co-operate in planning the audit (e.g. by exchange of correspondence and/or meetings) to ensure that: a) the period, timing, product(s), scope and location(s) subject to audit are identified; b) all records necessary for the audit are identified and made available for inspection, including; 1. Enablement reports from permissioning systems for the entire audit period. 2. All datafeed access declarations submitted to vendors during the audit period. 3. A list of all users considered to be non chargeable and details of their role. 4. Copies of Private Investor declarations (where applicable). 5. A technical overview of the market data infrastructure. c) adequate resources and time are allowed for the audit; d) the auditor has sufficient access to relevant staff and any necessary data; e) audit enquiries and pre-audit information requests are promptly addressed by both parties; f) procedures for closing the audit are communicated.

Audit Planning. 3.1 Customers will be contacted by phone and notified of the intention to audit. An official notification will then be issued by e-mail stating the agreed audit date and outlining the scope of the audit. 3.2 Both the auditor and the audited party should co-operate in planning the audit (e.g. e.g., by exchange of correspondence and/or meetings) to ensure that: a(i) the The period, timing, product(s), scope and location(s) subject to audit are identified; b(ii) all All records necessary for the audit are identified and made available for inspection, including;: 1. (a) Enablement reports from permissioning systems for the entire audit period. 2. (b) All datafeed access declarations submitted to vendors during the audit period. 3. (c) A list of all users considered to be non chargeable and details of their role. 4. (d) Copies of Private Investor declarations (where applicable). 5. (e) A technical overview of the market data infrastructure. c(iii) adequate Adequate resources and time are allowed for the audit; d(iv) the The auditor has sufficient access to relevant staff and any necessary data; e(v) audit Audit enquiries and pre-audit information requests are promptly addressed by both parties; f(vi) procedures Procedures for closing the audit are communicated.