Accounting Control. Each of the BIP Entities maintains a system of internal accounting controls, which, on a consolidated basis, is sufficient to provide reasonable assurances that: (A) transactions are executed in accordance with management’s general or specific authorization; (B) transactions are recorded as necessary to permit preparation of financial statements in conformity with IFRS and to maintain accountability for assets; (C) access to assets is permitted only in accordance with management’s general or specific authorization; and (D) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences. The internal controls are, and upon consummation of the Offering will be, overseen by the Audit Committee (the “Audit Committee”) of the general partner of BIP (the “General Partner”) in accordance with the NYSE Rules. BIP has not publicly disclosed or reported to the Audit Committee or the General Partner, and, within the next 135 days, BIP does not reasonably expect to publicly disclose or report to the Audit Committee or the General Partner a significant deficiency, material weakness, change in internal controls or fraud involving management or other employees who have a significant role in internal controls, any violation of, or failure to comply with, the U.S. Securities Laws, or any matter which, if determined adversely, would have a Material Adverse Effect.
Accounting Control. Each of the BIP Entities maintains a system of internal accounting controls over financial reporting (as such term is defined in Rule 13a-15(f) of the Exchange Act) that complies with the requirements of the Exchange Act (including, where applicable, by exemptive relief) and that has been designed by, or under the supervision of, BIP’s principal executive and principal financial officers, which, on a consolidated basis, is sufficient to provide reasonable assurances that: (A) transactions are executed in accordance with management’s general or specific authorization; (B) transactions are recorded as necessary to permit preparation of financial statements in conformity with IFRS and to maintain accountability for assets; (C) access to assets is permitted only in accordance with management’s general or specific authorization; and (D) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences. The internal controls are, and upon consummation of the Offering will be, overseen by the Audit Committee (the “Audit Committee”) of the General Partner in accordance with the NYSE Rules. As of the date of the most recent balance sheet of BIP and its consolidated subsidiaries included in the Registration Statement, the Disclosure Package and the Prospectus, there were no material weaknesses in BIP’s internal controls. BIP has not publicly disclosed or reported to the Audit Committee or the General Partner, and, within the next 135 days, BIP does not reasonably expect to publicly disclose or report to the Audit Committee or the General Partner a significant deficiency, material weakness, change in internal controls or fraud involving management or other employees who have a significant role in internal controls, any violation of, or failure to comply with, the Securities Laws, or any matter which, if determined adversely, would have a Material Adverse Effect.
Accounting Control. The Company maintains a system of internal accounting controls sufficient to provide reasonable assurances that (i) transactions are executed in accordance with management's general or specific authorization; (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles and to maintain accountability for assets; (iii) access to assets is permitted only in accordance with management's general or specific authorization; and (iv) the recorded accountability for assets is compared with existing assets at reasonable intervals and appropriate action is taken with respect to any differences.
Accounting Control. 26. The Implementing Agency shall ensure a proper bookkeeping and account control system in place and submit quarterly financial reports to the designated authority of the Implementing Country and the Executive Director.
Accounting Control. Each of BEPC and the Partnership maintains systems of internal accounting controls sufficient to provide reasonable assurance that (i) transactions are executed in accordance with management’s general or specific authorizations, (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles and to maintain asset accountability, (iii) access to assets is permitted only in accordance with management’s general or specific authorizations, and (iv) the recorded accountability for assets is compared with existing assets at reasonable intervals and appropriate actions are taken with respect to any differences. Other than TerraForm Power, which has not maintained effective internal control over financial reporting, as described in the audit report of Ernst & Young LLP in respect of TerraForm Power incorporated by reference in the Supplemented Prospectus, BEPC’s and the Partnership’s internal control over financial reporting is effective and BEPC and the Partnership and their material subsidiaries are not aware of any material weakness in the internal control over financial reporting of BEPC and the Partnership and their material subsidiaries, taken together as a whole.
Accounting Control. Each of the BIP Entities maintains a system of internal accounting controls, which, on a consolidated basis, is sufficient to provide reasonable assurances that: (A) transactions are executed in accordance with management’s general or specific authorization; (B) transactions are recorded as necessary to permit preparation of financial statements in conformity with IFRS and to maintain accountability for assets; (C) access to assets is permitted only in accordance with management’s general or specific authorization; and (D) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences. The internal controls of the BIP Entities (other than BIPC and its subsidiaries) are, and upon consummation of the Offering will be, overseen by the Audit Committee (the “BIP Audit Committee”) of the general partner of BIP (the “General Partner”) in accordance with the NYSE Rules. BIP has not publicly disclosed or reported to the BIP Audit Committee or the General Partner, and, within the next 135 days, BIP does not reasonably expect to publicly disclose or report to the BIP Audit Committee or the General Partner a significant deficiency, material weakness, change in internal controls or fraud involving management or other employees who have a significant role in internal controls, any violation of, or failure to comply with, the U.S. securities laws, or any matter which, if determined adversely, would have a Material Adverse Effect. The internal controls of the BIPC and its subsidiaries are, and upon consummation of the Offering will be, overseen by the Audit Committee (the “BIPC Audit Committee”) of BIPC in accordance with the NYSE Rules. BIPC has not publicly disclosed or reported to the BIPC Audit Committee, and, within the next 135 days, BIPC does not reasonably expect to publicly disclose or report to the BIPC Audit Committee a significant deficiency, material weakness, change in internal controls or fraud involving management or other employees who have a significant role in internal controls, any violation of, or failure to comply with, the U.S. securities laws, or any matter which, if determined adversely, would have a Material Adverse Effect.
Accounting Control. Except as disclosed in the Registration Statement, the Time of Sale Prospectus and the Prospectus, the Company (A) makes and keeps books, records and accounts, which, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the material assets of the Company and its consolidated subsidiaries and (B) maintains a system of internal accounting controls sufficient to provide reasonable assurances that (1) transactions are executed in accordance with management’s general or specific authorization; (2) transactions are recorded as necessary: (x) to permit preparation of financial statements in conformity with generally accepted accounting principles or any other criteria applicable to such statements and (y) to maintain accountability for assets; (3) access to material assets is permitted only in accordance with management’s general or specific authorization; and (4) the recorded accountability for material assets is compared with the existing material assets at reasonable intervals and appropriate action is taken with respect to any differences.
Accounting Control. The Company and its subsidiaries, on a consolidated basis, maintain a system of internal accounting control sufficient to provide reasonable assurance that (A) transactions are executed in accordance with management's general or specific authorization; (B) transactions are recorded as necessary to permit preparation of financial statements in conformity with GAAP and to maintain accountability for assets; (C) access to assets is permitted only in accordance with management's general or specific authorization; and (D) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences. Except as described in the Prospectus, since the end of the Company's most recent audited fiscal year, there has been (1) no material weakness in the Company's internal control over financial reporting (whether or not remediated) and (2) no change in the Company's internal control over financial reporting that has materially affected, or is reasonably likely to materially affect, the Company's internal control over financial reporting.
Accounting Control. The Group Companies have maintained internal accounting control, which can provide sufficient assurance of the following matters:
20.1 Conduct of transactions according to general or specific authorization of management authority;
20.2 Permission to the use of properties only according to general or specific authorization of management authority;
20.3 Responsible for reasonable and regular check of assets of book and actual assets and taking reasonable measures for the discrepancy, if any;
20.4 Appropriate separation of auditing and accounting positions; and
20.5 The Group Companies do not share any assets or bank account with any director, officer or employee or use any personal assets or bank account of any director, officer or employee. The existing management information and accounting control system of the Transferor and the Group Companies has been adopted for at least six months, during which the Group Companies have not encountered any difficulties in assuring the above matters. The Transferor and the Group Companies are not aware of (x) any substantive shortcomings of the internal accounting control system or (y) any Material Adverse Effect or potential Material Adverse Effect on the internal financial control system of the Group Companies.
Accounting Control. The Implementing Agency will ensure a proper book-keeping and an account control system in place.
