Cognizant Audit Clause Samples

The Cognizant Audit clause grants Cognizant the right to review and examine records, processes, or systems relevant to a contract or business relationship. Typically, this clause allows Cognizant to access documentation, financial records, or operational procedures of a vendor or partner to ensure compliance with contractual obligations, regulatory requirements, or quality standards. By enabling such audits, the clause helps maintain transparency, verify performance, and mitigate risks associated with non-compliance or misrepresentation.
Cognizant Audit. If an audit for the most recent fiscal year has been completed for your firm or any subconsultants by the appropriate federal cognizant agency, this must be submitted with the billing rate information (either hard copy or electronic scanned copy).
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Cognizant Audit. PennDOT will accept a FAR compliant Cognizant Audit from another state or agency. However, the state or agency issuing the Cognizant Audit must state that “a Cognizant Audit was performed,” and a cognizant letter from that agency must be supplied.
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Cognizant Audit. Office Template (CAOT) This template is required for each prime contractor, teaming partner, joint venture partner, and major subcontractor that meets the major subcontractor threshold (estimated value equal to or exceeding $3M). This template is designed to capture relevant information concerning (1) the specific location (address or addresses for prime and major subcontractors) where auditable cost information physically resides that supports amounts proposed; (2) the person or persons (name, address, phone number, e-mail address etc.) who can be contacted by DCAA to provide cost realism audit information for the prime contractor, (3) the person or persons (name, address, phone number, e-mail address etc.) who can be contacted by DCAA to provide cost realism audit information for your company or partners (in a teaming, joint venture or partnership situation) and major subcontractor(s); and (4) the name and address of the cognizant DCAA field audit office to which electronic and hardcopy proposals may be sent. If the Offeror does not know the cognizant DCAA field audit office, the information is readily available on the world-wide-web at ▇▇▇.▇▇▇▇.▇▇▇. Once the web site is accessed, click on the “Audit Office Locator” link. Enter the Offeror’s company’s 5 digit Zip Code in the area provided and click on the adjacent “search” button. (It is important that the Offeror enter the 5 digit Zip Code for the Offeror’s company location where auditable books and records supporting amounts in the Offeror’s proposal physically reside.) Once the search is completed, the cognizant field audit office physical and E-Mail addresses and Voice and FAX telephone numbers will be displayed.
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Related to Cognizant Audit

  • SAO AUDIT A. The state auditor may conduct an audit or investigation of any entity receiving funds from the state directly under the Contract or indirectly through a subcontract under the Contract. The acceptance of funds directly under the Contract or indirectly through a subcontract under the Contract acts as acceptance of the authority of the state auditor, under the direction of the legislative audit committee, to conduct an audit or investigation in connection with those funds. Under the direction of the legislative audit committee, an entity that is the subject of an audit or investigation by the state auditor must provide the state auditor with access to any information the state auditor considers relevant to the investigation or audit. B. Grantee shall comply with any rules and procedures of the state auditor in the implementation and enforcement of Section 2262.154 of the Texas Government Code.

  • Independent Audit The Grantee shall submit, in a format specified by the department, the independent financial compliance audit prepared by an independent Certified Public Accountant for the previous fiscal year. The audit shall follow the General Grant Requirements of Sections VIII (F) and (G) and be submitted no later than March 1 of the current fiscal year.

  • Contract Audits Eligible Purchaser represents and warrants that it shall cooperate with Enterprise Services, the Office of the State Auditor, federal officials, and/or any third party authorized by law or contract, in any audit conducted by such party pertaining to any Contracts that Eligible Purchaser has made purchases from pursuant to this Agreement, including providing records related to any purchases from such Contracts.

  • 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.

  • Independent Auditor If: (a) the Provider is the Distributor and, acting reasonably, gives notice that the Records contain information about other industry participants that cannot reasonably be severed from the information relating to the Trader or that the information is commercially sensitive; or (b) the provider is the Trader and, acting reasonably, gives notice that the Records contain information about other industry participants that cannot reasonably be severed from information relating to the Distributor or that the information is commercially sensitive, then the Distributor or the Trader, as appropriate, will permit an independent auditor (the “Auditor”) appointed by the other party to review the Records and the other party will not itself directly review any of the Records. The Distributor or the Trader, as appropriate, will not unreasonably object to the Auditor appointed by the other party. In the event that the Distributor or the Trader, as appropriate, reasonably objects to the identity of the Auditor, the parties will request the President of the New Zealand Law Society (or a nominee) to appoint a person to act as the Auditor. The party that is permitted by this clause 31.5 to appoint an Auditor will pay the Auditor’s costs, unless the Auditor discovers a material inaccuracy in the Records in which case the other party will pay the Auditor’s costs. The terms of appointment of the Auditor will require the Auditor to keep the Records confidential.