Project Audit Clause Samples
The Project Audit clause grants one or more parties the right to review and examine records, processes, or deliverables related to a project. Typically, this clause outlines the scope of audits, the notice period required before an audit, and the types of documents or activities subject to review, such as financial records or compliance with project specifications. Its core function is to ensure transparency and accountability, allowing stakeholders to verify that the project is being managed and executed according to agreed standards and contractual obligations.
Project Audit. DASNY shall, upon reasonable notice, have the right to conduct, or cause to be conducted, one or more audits, including field inspections, of the Grantee to assure that the Grantee is in compliance with this Agreement. This right to audit shall continue for six (6) years following the completion of the Project or earlier termination of this Agreement.
Project Audit. The Commission will perform a final audit of project costs. The United States Government shall reimburse the City, through the Commission, any monies due. The City shall refund any overpayments as determined by the final audit.
Project Audit. The Grantee agrees to have financial, performance, and compliance audits performed as SANDAG may require. The Grantee agrees that Project closeout will not alter the Grantee's audit responsibilities. Audit costs are allowable Project costs.
Project Audit. (a) At any time during or after the term of the Deed, the Ministry may direct that an audit of the Project be undertaken. The audit may take the form of a full technical, financial, compliance and/or health and safety audit, or a more informal assessment, of the Recipient and/or Sub-Recipient(s) to check, compliance with this Deed, appropriate use of the Grant, and/or review the Recipient’s ability to perform any obligations under or in connection with this Deed.
(b) The Ministry will inform the Recipient of an audit;
i. Audits will be carried out either by an accountant or technical specialist independent of the Ministry, or by Ministry staff.
ii. The Recipient must promptly provide any records the Ministry requests as part of the audit including records held by Sub-Recipients in respect of their delivery of Project activities.
(c) At the end of the audit, the Recipient will receive a written document advising of the outcome.
(d) In the event that the audit reveals any misappropriation of the Grant or material non compliances with this Deed (particularly those related to Deliverables), the Recipient will be liable for the costs of the audit, as well as the repayment of any misappropriated or incorrectly claimed Grant monies.
Project Audit. The Grantee understands and agrees to the following:
i. Upon Project completion pursuant to Regulation Section 1860.20, the Office of Public School Construction may notify the Grantee, the Grantee’s County Office of Education, and the State Controller’s Office that the Grantee is subject to an audit of the Project by a local auditor that is in accordance with the Guide for Annual Audits of K-12 Local Education Agencies and State Compliance Reporting. The Grantee shall retain all financial accounts, documents, and records necessary for an audit pursuant to Education Code Section 41024(a)(4) and shall provide Project documentation, if requested by the local auditor.
ii. Project documentation that the Grantee shall provide when requested by the local auditor, for the purposes of the audits described in Education Code Section 41024, shall include, but is not limited to:
a) Proof of acreage purchased
b) Proof of site costs and adjusted site grants, where applicable c) Copy of Form SAB 70-01
Project Audit. An external Auditor will perform a financial audit of the Project and report its findings to the Grant Manager.
Project Audit. A. The Owner, the Engineer, and the Contractor shall maintain books, records, documents, and other evidence directly related to the performance on all work receiving funding under the executed Financial Assistance Agreement in accordance with generally accepted professional practice and appropriate accounting procedures and practices. The Owner, the Engineer, and the Contractor shall also maintain the financial information and data used by the Engineer and Contractor in the preparation or support of project invoices and associated progress reports.
Project Audit. 1. The project, in which the value of the grant exceeds PLN 3,000,000 (in words: three million zlotys), is subject to a mandatory external audit.
2. An audit is an eligible cost if it commenced after at least 80% of the planned Project expenditures have been realized and is conducted in accordance with the guidelines attached as Appendix 3 to the Cost eligibility guide.
3. The Program Component Operator shall submit the audit report to the Center along with the Final Report. The Program Component Operator is obliged to comply with the audit recommendations and include them in the Final Report.
4. The report referred to in Paragraph 3 shall be kept by the Program Component Operator for the period referred to in § 13 Paragraph 26 of the Agreement, and shall be made available to the Center upon any request.
5. The report referred to in paragraph 3 shall be tantamount to verification of the eligible costs of the Project, if the audit was performed in accordance with the guidelines attached as Annex 3 to the Cost eligibility guide.
6. The auditing entity is selected by the Program Component Operator with observance of the rules referred to in § 10 of the Agreement, and must ensure that the audit is conducted by an auditor who meets the conditions set forth in Article 286 ufp21 . The auditing entity or auditor must not be a subsidiary of the audited entity, as well as an entity or auditor that audited the financial statements of the audited entity during the 3 years preceding the audit.
Project Audit. On CEPI’s reasonable request, and no more often than once every [*****] the Partner shall procure the Partner’s external auditors to conduct a Project audit and to provide CEPI with audited Project statements (in accordance with ISA800) at CEPI’s cost and expense.
Project Audit. In accordance with 4 AAC 31.023(c)(3), the Recipient’s performance is subject to financial audit at any time. Project records shall be maintained for three (3) years after the project completion and acceptance. Within three hundred and sixty-five (365) days after certification of beneficial occupancy and/or substantial completion, the Recipient agrees to provide an auditable accounting of expenditures of the Project.