Adverse opinion Sample Clauses

Adverse opinion. Based on the examination referred to above, it is my opinion that for the period 1 October 20xx until 30 September 20xx+1) the ma- nagement and control systems established for the IPA component [1 to 5] to contribute to the production of reliable [statements of expenditure] [accounts and statements of expenditure]3 presented to the Commission and, therefore, to help to ensure, inter alia, the legality and regularity of the transactions underlying those state- ments, did not function effectively and, concerning its design and operation, failed to comply, in significant respects, with applicable requirements of the IPA Framework Agreement and/or any other agreements between the Commission and the Government of the Republic of Croatia in the framework of IPA. This adverse opinion is based on the following observation(s): e Describe the circumstances giving rise to the reservations – toge- ther with its significant compliance implications with Community rules – and name in particular the bodies affected, if applicable. Because of the effects of the matters described in the preceding pa- ragraph [Republic of Croatia] [the... authority] [any other actor(s)] has failed to comply with the requirements of the IPA Framework Agreement and/or any other agreements between the Commission and (country) in the framework of IPA. The audits were conducted between DD/MM/20YY and DD/ MM/20YY. A report on my findings is delivered at the same date as the date of this opinion.
View SourceView Similar (4)
Adverse opinion. (If the nature and extent of the errors and of the cases of irregu- larities and the way they have been dealt with by the NAO are so pervasive that a qualification is deemed inadequate to disclose the misleading nature of the final statement of expenditure as a whole) [Based on the examination referred to above covering the audit work carried out in accordance with Article 29(2)(b) IPA IR [and the ad- ditional work I have performed], and in particular in view of the nature and extent of the errors and of cases of irregularities and the fact that they have not been dealt with satisfactorily by the NAO as disclosed under point 4, it is my opinion that that the accounts submitted to the Commission for the operations under the IPA com- ponent [1 to 5] for the period from (date) to (date) are not presented fairly, in all material respects [and the internal control procedures have not operated satisfactorily]3.] Or [Based on the examination referred to above covering the audit work carried out in accordance with Article 29(2)(b) IPA IR [and the additional work I have performed], it is my opinion that the final statement of expenditure does not present fairly, in all material respects – <including those pertaining to the legality and regulari- ty of the underlying transactions>7 the expenditure paid under the operational programme with reference:... of the IPA component [1 to 5] for the period from (date) to (date), and that the application for payment of the final balance of the Community contribution to this programme is not valid.] My audits were conducted between DD/MM/20YY and DD/ MM/20YY.
View SourceView Similar (2)
Adverse opinion. (If the nature and extent of the errors and of the cases of irregularities and the way they have been dealt with by the NAO are so pervasive that a qualification is deemed inadequate to disclose the misleading nature of the final statement of expenditure as a whole) (Place and date of issue _________________________________________________________________
View SourceView Similar (2)
Adverse opinion. We have audited the annual accounts of expenditure declared to the Commission as expenditure incurred for the Programme for the 200x financial year by [name and address of SAPARD Agency]. Our responsibility, acting as Certifying Body, is to express an opinion on the annual accounts based on our audit. We conducted our audit in accordance with internationally accepted auditing standards and Article 6 of the Section A of the Annex to the Multi-annual Financing Agreement. We planned and performed the audit to obtain reasonable assurance about whether the accounts transmitted to the Commission are free of material misstatement. The audit included examination, on a test basis, of evidence supporting the information in the annual accounts, the records of commitments, an examination of procedures and of a sample of transactions. The audit covered compliance of payments with the Multi-annual Financing Agreement only as regards the capability of the SAPARD Agency's administrative structures to ensure that such compliance has been checked before payment is made. Our audit provides a reasonable basis for our opinion. The expenditure declared by the SAPARD Agency does not agree with payments and receipts effected during the period (reference: audit report page P). In our opinion, because of the effects of the matters described in the preceding paragraph, the accounts to be transmitted to the Commission for the 200x EAGGF financial year (dated DD/MM/YYYY) are not true, complete and accurate. Our audit was conducted between DD/MM/YYYY and DD/MM/YYYY. A report on our findings is delivered at the same date as the date of this certificate. 5 OJ L 253, 7.10.2000, p. 5. (a) (b) (c) (d) (e) 1 A 3 1 The Commission may decide on the basis of a case-by-case analysis of national and sectoral programme/project management capacity, financial control procedures and structures regarding public finance, to waive the ex-ante approval requirement referred to in Item 2 and confer on implementing agencies in applicant countries management of aid on a decentralised basis. Such a waiver shall be subject to: - the minimum criteria for assessing the ability of implementing agencies in applicant countries to manage aid and minimum conditions applicable to such agencies as set out in Item 3; - and specific provisions concerning, inter alia, invitations to tender, scrutiny and evaluation of tenders, the award of contracts and the implementation of Community public procurement directives, which s...
View Source
Adverse opinion. Based on the examination referred to above, it is my opinion that for the period 1 October 20xx until 30 September 20xx+1) the ma- nagement and control systems established for the IPA component [1 to 5] to contribute to the production of reliable [statements of expenditure] [accounts and statements of expenditure]3 presented to the Commission and, therefore, to help to ensure, inter alia, the legality and regularity of the transactions underlying those state- ments, did not function effectively and, concerning its design and operation, failed to comply, in significant respects, with applicable requirements of the IPA Framework Agreement and/or any other agreements between the Commission and the Government of the Republic of Croatia in the framework of IPA. This adverse opinion is based on the following observation(s): Because of the effects of the matters described in the preceding pa- ragraph [Republic of Croatia] [the. authority] [any other actor(s)] has failed to comply with the requirements of the IPA Framework Agreement and/or any other agreements between the Commission and (country) in the framework of IPA. The audits were conducted between DD/MM/20YY and DD/ MM/20YY. A report on my findings is delivered at the same date as the date of this opinion.
View Source
Adverse opinion. (If the nature and extent of the errors and of the cases of irregularities and the way they have been dealt with by the NAO are so pervasive that a qualification is deemed inadequate to disclose the misleading nature of the final statement of expenditure as a whole) (Place and date of issue Signature Name and official title or function of the Head of the Audit Authority designated)] Mjesto i datum izdavanja Potpis Ime i službeni naziv ili funkcija čelnika imenovanog Tijela nadležnog za reviziju)]
View Source
Adverse opinion. Based on the examination referred to above, it is my opinion that for the period 1 October 20xx until 30 September 20xx+1) the management and control systems established for the IPA component [1 to 5] to contribute to the production of reliable [statements of expenditure] [accounts and statements of expenditure]3 presented to the Commission and, therefore, to help to ensure, inter alia, the legality and regularity of the transactions underlying those statements, did not function effectively and, concerning its design and operation, failed to comply, in significant respects, with applicable requirements of the IPA Framework Agreement and/or any other agreements between the Commission and (country) in the framework of IPA. This adverse opinion is based on the following observation(s): ➢ Describe the circumstances giving rise to the reservations – together with its significant compliance implications with Community rules - and name in particular the bodies affected, if applicable. Because of the effects of the matters described in the preceding paragraph [(country)] [the … authority] [any other actor(s)] has failed to comply with the requirements of the IPA Framework Agreement and/or any other agreements between the Commission and (country) in the framework of IPA. The audits were conducted between DD/MM/20YY and DD/MM/20YY. A report on my findings is delivered at the same date as the date of this opinion.
View Source

Related to Adverse opinion

  • REIT Opinion Company shall have received a written opinion of Baker, Donelson, Bearman, ▇▇▇▇▇▇▇▇ & ▇▇▇▇▇▇▇▇▇, PC, dated as of the Closing Date and in form and substance reasonably satisfactory to the Company, to the effect that, commencing with Parent’s taxable year that ended on December 31, 2010, Parent has been organized and has operated in conformity with the requirements for qualification and taxation as a REIT under the Code, and its proposed method of operation will enable Parent to continue to meet the requirements for qualification and taxation as a REIT under the Code, which opinion will be subject to customary exceptions, assumptions and qualifications and based on customary representations contained in an officer’s certificate executed by Parent and provided pursuant to Section 6.2(b).

  • Underwriters Counsel Opinion The Representatives will have received (i) an opinion addressed to the Representatives of ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ LLP (or such other counsel satisfactory to the Representatives in their reasonable judgment), counsel to the Underwriters, dated the Closing Date, with respect to the validity of the Publicly Registered Notes and such other related matters as the Representatives require and the Depositor will have furnished or caused to be furnished to such counsel such documents as they may reasonably request for the purpose of enabling them to pass upon such matters and (ii) a signed negative assurance letter of ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ LLP, dated the Closing Date, relating to the Preliminary Prospectus and the Prospectus.

  • Solvency Opinion The Administrative Agent shall have received a solvency opinion in form and substance and from an independent investment bank or valuation firm reasonably satisfactory to the Administrative Agent to the effect that each of (a) Holdings, the Borrower and the Subsidiary Guarantors, on a consolidated basis, and (b) the Borrower and the Subsidiary Guarantors, on a consolidated basis, in each case after giving effect to the Recapitalization Transactions, are solvent;

  • Company Counsel Opinions On the Closing Date and/or the Option Closing Date, the Representative shall have received: (i) the favorable opinion of ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ LLP, counsel to the Company, addressed to the Underwriters, in form and substance reasonably satisfactory to the Underwriters and a negative assurance letter, addressed to the Underwriters, in form and substance reasonably satisfactory to the Representative; (ii) the favorable opinion of ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ law Firm, PRC counsel to the Company, addressed to the Underwriters, in form and substance reasonably satisfactory to the Representative; and (iii) the favorable opinion of ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ (Cayman) LLP, Cayman Islands counsel to the Company, addressed to the Underwriters, in form and substance reasonably satisfactory to the Representative. The Underwriters and their counsel shall rely on the opinions of (i) the Company’s Cayman Islands counsel, Mourant Ozannes (Cayman) LLP, filed as Exhibit 5.1 to the Registration Statement, as to the due incorporation and validity of the Offered Securities and the Underlying Shares and (ii) the Company’s PRC counsel, Jiangsu Junjin law Firm, filed as Exhibit 8.1 to the Registration Statement as well as the opinions delivered on the Closing Date pursuant to this Section.

  • Legal Opinion The Agent shall have received the opinions of Company Counsel required to be delivered pursuant to Section 7(m) on or before the date on which such delivery of such opinion is required pursuant to Section 7(m).