Common use of AUDIT PROVISION Clause in Contracts

AUDIT PROVISION. The Contractor and its authorized subcontractors are subject to audits by the State, the Legislative Audit Bureau (LAB), an independent Certified Public Accountant (CPA), or other representatives as authorized by the State. The Contractor will cooperate with such efforts and provide all requested information permitted under the law. 6.1 SOC 1/Type 2 Report: If the Department requires Contractor to provide a System and Organization Controls (SOC) audit report, Contractor will furnish the Department with a copy of Contractor’s annual independent service auditor’s report on management’s description of Contractor’s system and the suitability of the design and operating effectiveness of controls (SOC 1, Type 2). This independent audit of the Contractor’s controls must be completed in accordance with the American Institute of Certified Public Accountants’ (AICPA) Statements on Standards for Attestation Engagements (SSAE) No. 18 (SOC 1, Type 2). The SSAE 18 (SOC 1, Type 2) annual audit will include all programs under the Contract and will be conducted at the Contractor’s expense. If the Contractor’s SSAE 18 (SOC 1, Type 2) audit covers less than twelve (12) months of a calendar

AUDIT PROVISION. The Contractor and its authorized subcontractors are subject to audits by the State, the Legislative Audit Bureau (LAB), an independent Certified Public Accountant (CPA), or other representatives as authorized by the State. The Contractor will cooperate with such efforts and provide all requested information permitted under the law. 6.1 SOC 1/Type 2 Report: If the Department requires Contractor to provide a System and Service Organization Controls Control (SOC) audit report, Contractor will furnish the Department with a copy of Contractor’s annual independent service auditor’s report on management’s description of Contractor’s system and the suitability of the design and operating effectiveness of controls (SOC 1, Type 2). This independent audit of the Contractor’s controls must be completed in accordance with the American Institute of Certified Public Accountants’ (AICPA) Statements on Standards for Attestation Engagements (SSAE) No. 18 (SOC 1, Type 2). The SSAE 18 (SOC 1, Type 2) annual audit will include all programs under the Contract and will be conducted at the Contractor’s expense. If the Contractor’s SSAE 18 (SOC 1, Type 2) audit covers less than twelve (12) months of a calendarcalendar year, the