ACCOUNTING INFORMATION AND APPOINTMENT OF AUDITORS Sample Clauses

ACCOUNTING INFORMATION AND APPOINTMENT OF AUDITORS. In term of 6 months as from the Date of entering into force of the present Concession Agreement the CONCESSIONAIRE shall be obliged to undertake actions for implementation of modern financial software and using of system for accounting and control of costs in conformity to internationally accepted standards and for appointment of a specialized auditing company under the Independent Financial Audit Act after coordination with the G R A N T O R O F C O N C E S S I O N . After informing of the CONCESSIONAIRE, the G R A N T O R O F C O N C E S S I O N shall have the right to require performance of additional inspections of CONCESSIONAIRE. The costs for such additional inspections shall be covered by the GRANTOR OF CONCESSION, except in cases when the inspection shows that it was justified due to respective infringement or omission of rendering of due care on the part of the CONCESSIONAIRE.
Sample 1
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Related to ACCOUNTING INFORMATION AND APPOINTMENT OF AUDITORS

  • Records Administration and Audit a. The Contractor shall maintain books, records, documents, and other evidence pertaining to this Master Agreement and Orders placed by Purchasing Entities under it to the extent and in such detail as shall adequately reflect performance and administration of payments and fees. Contractor shall permit the Lead State, a Participating Entity, a Purchasing Entity, the federal government (including its grant awarding entities and the U.S. Comptroller General), and any other duly authorized agent of a governmental agency, to audit, inspect, examine, copy and/or transcribe Contractor's books, documents, papers and records directly pertinent to this Master Agreement or orders placed by a Purchasing Entity under it for the purpose of making audits, examinations, excerpts, and transcriptions. This right shall survive for a period of five (5) years following termination of this Agreement or final payment for any order placed by a Purchasing Entity against this Agreement, whichever is later, or such longer period as is required by the Purchasing Entity’s state statutes, to assure compliance with the terms hereof or to evaluate performance hereunder.

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