Common use of Audit Provisions Clause in Contracts

Audit Provisions. Section 6.01 All proposed Direct Labor rates and ICR’s are subject to review and approval by the CSO or WSDOT Internal Audit prior to the execution of this Agreement or issuance of any update. Section 6.02 The CONSULTANT and any sub-consultant shall permit the State, Federal Government or any other duly authorized agent of a governmental agency to audit, inspect, examine, excerpt, and/or transcribe the CONSULTANT’s records during the term of this AGREEMENT and for a period of six (6) years following termination of this AGREEMENT, or until final payments made under the provisions herein, whichever is later, to assure compliance with the terms hereof, or to evaluate the CONSULTANT’s performance hereafter. All CONSULTANT’s audit working papers are subject to copying, scanning and/or electronic submission by or for WSDOT as part of WSDOT’s effort to ensure the quality of audits and audit reports. Section 6.03 The CONSULTANT and any sub-consultant shall assure that any independent CPA performing an indirect cost rate audit shall permit the State, Federal Government or any other duly authorized agent of a governmental agency to audit, inspect, or examine the CPA’s indirect cost rate audit work papers during the term of this AGREEMENT and for a period of six (6) years following termination of this AGREEMENT, or until final payments made under the provisions herein, whichever is later, to assure that said audit work is completed in accordance with Generally Accepted Government Auditing Standards and in accordance with the guidance set forth in the AASHTO Audit Guide. All CPA audit working papers are subject to copying, scanning and/or electronic submission by or for WSDOT as part of WSDOT’s effort to ensure the quality of audits and audit reports. Section 6.04 The Direct Labor rates and the ICR’s are subject to retroactive adjustment to actual cost if WSDOT subsequently becomes aware of deficient audit work by an independent CPA, misinformation provided by the CONSULTANT, fraud, etc., and the deficiency results in a MISSTATEMENT in the ICR or costs reported. In such a case, the ANTE tables and all costs reported under the previously approved Direct Labor rates are subject to adjustment to actual cost by the WSDOT Internal Audit.

Audit Provisions. Section 6.01 All proposed Direct Labor rates A. Manager shall cause annual audits of its own, and ICRshall include in its agreements with the Approved Subcontractors the right to conduct annual audits of the Approved Subcontractors’, operations at Playland in accordance with generally accepted auditing procedures, consistently applied to be conducted by an independent auditor. Without limiting the County’s are subject to review and approval by the CSO or WSDOT Internal Audit prior rights below, copies of such audits shall be promptly submitted to the execution County Commissioner of this Agreement Finance and Budget Director. In addition, the County Commissioner of Finance, or issuance his/her designee, may, at his/her option and at the County’s sole cost and expense, annually audit such books and records of any update. Section 6.02 the Manager. The CONSULTANT and any sub-consultant shall permit County Commissioner of Finance reserves the State, Federal Government right to conduct such annual audits up to one year after the expiration or any other duly authorized agent of a governmental agency to audit, inspect, examine, excerpt, and/or transcribe the CONSULTANT’s records during the term of this AGREEMENT and for a period of six (6) years following termination of this AGREEMENT, or until final payments made under the provisions herein, whichever is later, to assure compliance with the terms hereof, or to evaluate the CONSULTANT’s performance hereafter. All CONSULTANT’s audit working papers are subject to copying, scanning and/or electronic submission by or for WSDOT as part of WSDOT’s effort to ensure the quality of audits and audit reportsAgreement. Section 6.03 B. The CONSULTANT Commissioner also reserves the right to audit the Manager’s, and any sub-consultant shall assure that any independent CPA performing an indirect it’s Approved Subcontractors’, performance under this Agreement at the County’s sole cost rate and expense. Such audit shall permit may include requests for documentation or other information which the StateCommissioner may, Federal Government or any other duly authorized agent of a governmental agency in his/her discretion, deem necessary and appropriate to audit, inspect, or examine verify the CPA’s indirect cost rate audit work papers during the term of this AGREEMENT and for a period of six (6) years following termination of this AGREEMENT, or until final payments made under the provisions herein, whichever is later, to assure that said audit work is completed in accordance with Generally Accepted Government Auditing Standards and in accordance with the guidance set forth in the AASHTO Audit Guide. All CPA audit working papers are subject to copying, scanning and/or electronic submission by or for WSDOT as part of WSDOT’s effort to ensure the quality of audits and audit reports. Section 6.04 The Direct Labor rates and the ICR’s are subject to retroactive adjustment to actual cost if WSDOT subsequently becomes aware of deficient audit work by an independent CPA, misinformation information provided by the CONSULTANTManager under the terms of this Agreement. The County may also make site visits to the location(s) where the services to be provided under this Agreement are performed in order to review Manager’s or Approved Subcontractor’s records and to observe the performance of services, fraudand/or to conduct interviews of staff and patrons, etc.where appropriate and not otherwise prohibited by law. In exercising this right to audit performance hereunder, the Commissioner may not intrude upon or disrupt in any manner the business and activities being conducted by the deficiency results Manager or an Approved Subcontractor and any dissatisfaction on the part of the Commissioner observed on site at Playland shall be conveyed to the Manager or an Approved Subcontractor in a MISSTATEMENT private and out of earshot of any member of the public or any employee working in the ICR Park. If the Commissioner’s dissatisfaction warrants it, any verbal discussion shall be followed up by a written report delivered to the Manager or costs reported. In such a case, the ANTE tables and all costs reported under the previously approved Direct Labor rates are subject to adjustment to actual cost by the WSDOT Internal Auditan Approved Subcontractor.

Audit Provisions. Section 6.01 All proposed Direct Labor rates and ICR’s are subject 12.1 On reasonable prior written notice to review and approval by Licensee, no more than once per annum, Licensor shall have the CSO or WSDOT Internal Audit prior to the execution of this Agreement or issuance of any update. Section 6.02 The CONSULTANT and any sub-consultant shall permit the State, Federal Government or any other duly authorized agent of a governmental agency right to audit, inspect, examine, excerpt, and/or transcribe inspect and take extracts from the CONSULTANT’s books and records of Licensee including without limitation: (a) all manufacturing records relating to the Titled Album; (b) the release date of the Titled Album in each country of the Territory; (c) the number of Titled Albums manufactured during the term Accounting Period; (d) the address of this AGREEMENT each processing plant where such Titled Album were manufactured; (e) the address(es) of the location(s) where such Titled Album were stored prior to their leaving the possession custody or control of Licensee and where the remainder of such Titled Album manufactured but not yet “shipped” are being held; (f) full details of all returns and credits errors in billing and in shipment, Titled Album distributed as promotional giveaways and/or as free goods to retailers for a period promoting sales of six such Records, together with supporting documentation; and (6g) years following termination all such other information in the possession custody or control of this AGREEMENT, or until final payments made under Licensee relating to such Licensed Masters; for the provisions herein, whichever is later, purposes of verifying the accuracy of the Accounting Statements and conducting an audit trail of the Titled Album manufactured for and on behalf of Licensee. 12.2 Further for such purposes access shall be granted and/or procured by Licensee to assure compliance with and/or for Licensor to the terms hereof, or to evaluate processing plants and warehouses where the CONSULTANT’s performance hereafter. All CONSULTANT’s audit working papers Titled Album are subject to copying, scanning manufactured and/or electronic submission stored by or for WSDOT as part Licensee. Such audit examination inspection and extraction shall be held during normal business hours and with regard to the books and records of WSDOT’s effort to ensure Licensee at the quality regular place of audits business of Licensee where such books and audit reports. Section 6.03 The CONSULTANT and any sub-consultant records shall assure that any independent CPA performing an indirect cost rate be maintained. Such audit shall permit be carried out by qualified independent accountants and shall be at Licensor’s expense PROVIDED HOWEVER that if an underpayment for any payment period is found in excess of five per cent (5%) of the State, Federal Government or any other duly authorized agent royalties payable in respect of a governmental agency the period for which the audit has been conducted then Licensee shall reimburse Licensor on demand for the reasonable expense of such inspection in addition to audit, inspect, or examine remitting the CPA’s indirect cost rate audit work papers during the term of this AGREEMENT and for a period of six (6) years following termination of this AGREEMENT, or until final payments made under the provisions herein, whichever is later, amount shown properly to assure that said audit work is completed be due plus accrued interest calculated in accordance with Generally Accepted Government Auditing Standards and in accordance with the guidance set forth in the AASHTO Audit Guide. All CPA audit working papers are subject to copying, scanning and/or electronic submission by or for WSDOT as part of WSDOT’s effort to ensure the quality of audits and audit reportsSection 10.4 above. Section 6.04 The Direct Labor rates 12.3 Without prejudice to the generality of this Article 12 and only in conjunction with any audit exercised thereunder Licensee shall grant or procure the ICR’s are subject grant to retroactive adjustment Licensor of access to actual cost if WSDOT subsequently becomes aware all source manufacturing records relating to the Titled Album in each of deficient audit work by an independent CPA, misinformation provided by the CONSULTANT, fraud, etccountries where production of the Titled Album occurs and to all subsequent paperwork documents computer printouts relevant to all stock movements and royalty calculations in all countries of the Territory., and the deficiency results in a MISSTATEMENT in the ICR or costs reported. In such a case, the ANTE tables and all costs reported under the previously approved Direct Labor rates are subject to adjustment to actual cost by the WSDOT Internal Audit.