Common use of Accounting and Financial Reporting Clause in Contracts

Accounting and Financial Reporting. 10.1. The Trustee shall maintain separate records and ledger accounts in respect of the Trust Fund funds deposited in the Trust Fund and transfers made therefrom. 10.2. The Trustee shall report to the Board annually, unless otherwise agreed between the Trustee and the Board, on the status of Allocations recorded by the Trustee, commitments and transfers from the Trust Fund and receipts of funds in the Trust Fund. 10.3. The Trustee shall provide to the Contributors via the World Bank’s Trust Fund Donor Center secure website, within six (6) months following the end of each Trustee fiscal year, an annual single audit report, comprising: (1) a management assertion together with an attestation from the Trustee’s external auditors concerning the adequacy of internal control over cash-based financial reporting for all cash-based trust funds as a whole; and (2) a combined financial statement for all cash-based trust funds together with the Trustee’s external auditor’s opinion thereon. The cost of the single audit shall be borne by the Trustee. If a Contributor wishes to request, on an exceptional basis, a financial statement audit by the Trustee’s external auditors of the Trust Fund, the Contributor and the Trustee shall first consult as to whether such an external audit is necessary. The Trustee and the Contributor shall agree on the appropriate scope and terms of reference of such audit. Following agreement on the scope and terms of reference, the Trustee shall arrange for such external audit. The costs of any such audit, including the internal costs of the World Bank with respect to such audit, shall be borne by the requesting Contributor.

Accounting and Financial Reporting. 10.16.1. The Trustee shall Bank will maintain separate records and ledger accounts in respect of the Trust Fund funds Contributions deposited in the Trust Fund account and transfers disbursements made therefrom. 10.26.2. The Trustee shall report Bank will furnish to the Board annuallyDonors current financial information relating to receipts, unless otherwise agreed between the Trustee disbursements and the Board, on the status fund balance in United States Dollars of Allocations recorded by the Trustee, commitments and transfers from the Trust Fund and receipts of funds in the Trust Fund. 10.3. The Trustee shall provide with respect to the Contributors Contributions via the World Bank’s Trust Fund Funds Donor Center secure website. Within six (6) months after all commitments and liabilities under the Trust Fund have been satisfied and the Trust Fund has been closed, the final financial information relating to receipts, disbursements and fund balance in United States Dollars of the Trust Fund with respect to the Contributions will be made available to the Donors via the World Bank’s Trust Funds Donor Center secure website. 6.3. The Bank will provide to the Donors, within six (6) months following the end of each Trustee Bank fiscal year, an annual single audit report, comprising: comprising (1) a management assertion together with an attestation from the TrusteeBank’s external auditors concerning the adequacy of internal control over cash-based financial reporting for all cash-based trust funds as a whole; and (2) a combined financial statement for all cash-based trust funds together with the TrusteeBank’s external auditor’s opinion thereon. The cost of the single audit shall will be borne by the TrusteeBank. 6.4. If a Contributor Donor wishes to request, on an exceptional basis, a financial statement audit by the TrusteeBank’s external auditors of the Trust Fund, the Contributor Donor and the Trustee shall Bank will first consult as to whether such an external audit is necessary. The Trustee Bank and the Contributor shall agree Donor will decide on the appropriate scope and terms of reference of such audit. Following agreement the decision on the scope and terms of reference, the Trustee shall Bank will arrange for such external audit. The costs of any such audit, including the internal costs of the World Bank with respect to such audit, shall will be borne paid by the requesting ContributorDonor. 6.5. The Bank will provide the Donors with copies of all financial statements and auditors’ reports received by the Bank from the Recipients pursuant to the Grant Agreements.

Accounting and Financial Reporting. 10.13.1. The Trustee Bank shall maintain separate records and ledger accounts in respect of the Trust Fund funds deposited in the Trust Fund and transfers disbursements made therefrom. 10.23.2. The Trustee Bank shall report furnish to the Board annuallyDonors current financial information relating to receipts, unless otherwise agreed between disbursements and fund balance in the Trustee and Holding Currency with respect to the Board, on Contributions via the status of Allocations recorded by the Trustee, 'Development Partner Center' website which will be updated quarterly. Within six (6) months after all commitments and transfers from liabilities under the Trust Fund have been satisfied and receipts of funds the Trust Fund has been closed, the final financial information relating to receipts, disbursements and fund balance in the Trust FundHolding Currency with respect to the Contributions shall be made available to the Donors at the 'Development Partner Center' website. 10.33.3. The Trustee Bank shall provide to the Contributors Donors via the World Bank’s Trust Fund Donor Center secure 'Development Partner Center' website, within six (6) months following the end of each Trustee Bank fiscal year, an annual single audit report, comprising: comprising (1i) a management assertion report together with an attestation audit opinion from the Trustee’s Bank's external auditors concerning the adequacy of internal control over cash-based financial reporting for all cash-based trust funds as a whole; and (2ii) a combined financial statement for all cash-based trust funds together with the Trustee’s Bank's external auditor’s 's opinion thereon. The cost of the single audit shall be borne by the TrusteeBank. 3.4. If a Contributor Donor wishes to request, on an exceptional basis, a financial statement audit by the Trustee’s Bank's external auditors of the Trust Fund, the Contributor Donor and the Trustee Bank shall first consult as to whether such an external audit is necessary. The Trustee Bank and the Contributor Donor shall agree on the appropriate scope and terms of reference of such audit. Following agreement on the scope and terms of reference, the Trustee Bank shall arrange for such external audit. The costs of any such audit, including the internal costs of the World Bank with respect to such audit, shall be borne by the requesting ContributorDonor.

Accounting and Financial Reporting. 10.16.1. The Trustee shall Bank will maintain separate records and ledger accounts in respect of the Trust Fund funds Contributions deposited in the Trust Fund account and transfers disbursements made therefrom. 10.26.2. The Trustee shall report Bank will furnish to the Board annuallyDonors current financial information relating to receipts, unless otherwise agreed between disbursements and fund balance in the Trustee and the Board, on the status holding currency of Allocations recorded by the Trustee, commitments and transfers from the Trust Fund and receipts of funds in the Trust Fund. 10.3. The Trustee shall provide with respect to the Contributors Contributions via the World Bank’s Trust Fund Funds Donor Center secure website. Within six (6) months after all commitments and liabilities under the Trust Fund have been satisfied and the Trust Fund has been closed, the final financial information relating to receipts, disbursements and fund balance in the holding currency of the Trust Fund with respect to the Contributions will be made available to the Donors via the World Bank’s Trust Funds Donor Center secure website. 6.3. The Bank will provide to the Donors, within six (6) months following the end of each Trustee Bank fiscal year, an annual single audit report, comprising: comprising (1a) a management assertion together with an attestation from the TrusteeBank’s external auditors concerning the adequacy of internal control over cash-based financial reporting for all cash-based trust funds as a whole; and (2b) a combined financial statement for all cash-based trust funds together with the TrusteeBank’s external auditor’s opinion thereon. The cost of the single audit shall will be borne by the TrusteeBank. 6.4. If a Contributor Donor wishes to request, on an exceptional basis, a financial statement audit by the TrusteeBank’s external auditors of the Trust Fund, the Contributor Donor and the Trustee shall Bank will first consult as to whether such an external audit is necessary. The Trustee Bank and the Contributor shall Donor will agree on the appropriate scope and terms of reference of such audit. Following agreement on the scope and terms of reference, the Trustee shall Bank will arrange for such external audit. The costs of any such audit, including the internal costs of the World Bank with respect to such audit, shall will be borne paid by the requesting ContributorDonor. 6.5. The Bank will provide the Donors with copies of all financial statements and auditors’ reports received by the Bank from the Recipients pursuant to the Grant Agreements.