Common use of Annual Financial Audit Clause in Contracts

Annual Financial Audit. The Academy shall conduct an annual financial audit prepared and reviewed by an independent certified public accountant in accordance with generally accepted governmental auditing principles. The Academy shall submit the annual financial statement audit and auditor’s management letter to the Charter Schools Office in accordance with the MCRR. The Academy Board shall provide to the Charter Schools Office a copy of any responses to the auditor’s management letter in accordance with the MCRR.

Annual Financial Audit. The Academy shall conduct an annual financial statement audit prepared and reviewed by an independent (with respect to both the Academy and its ESP, if any) certified public accountant in accordance with generally accepted governmental public school auditing principlesexperience. The By November 1 of each year, the Academy shall submit one (1) copy of the annual financial statement audit and auditor’s management letter letters to the University Charter Schools Office in accordance with the MCRR. The Academy Board shall provide to the Charter Schools Office a copy of any responses to the auditor’s management letter in accordance with the MCRROffice.