Common use of Project Audit Clause in Contracts

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.