Common use of Auditing and Reporting Clause in Contracts

Auditing and Reporting. 6.1 The Grant Recipient shall maintain and keep full, proper, separate accounts and financial records detailing its expenditure in relation to the Sub-project. 6.2 The Grant Recipient shall: (a) during the Term allow the Partner and/or its auditors and any other authorised representatives by the Partner access to all and any information relating to the Sub-project during normal business hours on reasonable notice to inspect and where necessary to copy such accounts and records (including bank statements); and (b) within thirty (30) days of any request by the Partner, the Grant Recipient shall provide to the Partner, any financial and non-financial statements and reports necessary for the Partner to fulfil its obligations to the Funding Body. GUIDANCE (c) retain for Six (6) years after the termination of this Agreement, all original records of its expenditures on the Sub-project and shall provide LU with such details as may be required to enable it to complete any reports as may be required by the Funding Body under the Main Agreement Conditions.

Auditing and Reporting. 6.1 The Grant Recipient shall maintain and keep full, proper, separate accounts and financial records detailing its expenditure in relation to the Sub-project. 6.2 The Grant Recipient shall: (a) during the Term allow the Partner and/or its auditors and any other authorised representatives by the Partner access to all and any information relating to the Sub-project during normal business hours on reasonable notice to inspect and where necessary to copy such accounts and records (including bank statements); and (b) within thirty (30) days of any request by the Partner, the Grant Recipient shall provide to the Partner, any financial and non-financial statements and reports necessary for the Partner to fulfil its obligations to the Funding Body. GUIDANCE. (c) retain for Six (6) years after the termination of this Agreement, all original records of its expenditures on the Sub-project and shall provide LU with such details as may be required to enable it to complete any reports as may be required by the Funding Body under the Main Agreement Conditions.