Common use of Audit requirements and procedures Clause in Contracts

Audit requirements and procedures. The Trustees shall, during each fiscal year of the Fringe Benefit Funds, cause a simple selection audit to be made of the records of not less than ten percent (10%) of the Contractors party to this Agreement. This audit shall be conducted by Certified Public Accountants retained by the Trustees for that purpose. The manner and method of conducting these audits shall be determined by the Certified Public Accountants conducting the audit, provided however, the auditors shall be permitted only to review any and all payroll records, and such other records as may be necessary to determine the obligation to pay Fringe Benefits of any Contractor at any time during business hours. The scope of such review shall be confined to the records necessary to perform the review of Fringe Benefit obligations only. The Trustees may direct that specific Contractors be audited in addition to those selected by the Certified Public Accountants, notwithstanding that a greater number than ten percent (10%) of the Contractors party to this Agreement will be audited in any fiscal year. If at any time reasonable grounds exist that any Contractor had filed an inaccurate or incomplete report, or that any report required to be filed has not been filed, or that the Contractor is otherwise in violation of any provisions of this Article, the Trustees may direct that an immediate (or expanded) audit be made with regard to that Contractor, and the Contractor will be responsible for the audit fees.

Audit requirements and procedures. a. The Trustees shall, during each fiscal year of the Fringe Benefit Funds, cause a simple selection audit to be made of the records of not less than ten percent (10%) of the Contractors party to this Agreement. Employers signatoryhereto. b. This audit shall be conducted by Certified Public Accountants retained by the Trustees for that purpose. The manner and method of conducting these audits shall be determined by the Certified Public Accountants conducting the audit, provided however, the auditors shall be permitted only to review any and all payroll records, and such other records as may be necessary to determine the obligation to pay Fringe Benefits fringe benefits of any Contractor Employer at any time during business hours. The scope of such review shall be confined to the records necessary to perform the review of Fringe Benefit obligations only. The Trustees may direct that specific Contractors Employers be audited in addition to those selected by the Certified Public Accountants, notwithstanding that a greater number than ten percent (10%) of the Contractors party to this Agreement signatory Employers will be audited in any fiscal year. . c. If at any time reasonable grounds exist that any Contractor Employer had filed an inaccurate or incomplete report, or that any report required to be filed has not been filed, or that the Contractor Employer is otherwise in violation of any provisions of this Article, the Trustees may direct that an immediate (or expanded) audit be made with regard to that Contractor, and the Contractor will be responsible for the audit feessignatory Employer.