Common use of Books and Records, Financial Accounts and Reports Clause in Contracts

Books and Records, Financial Accounts and Reports. 6.1 The Grantee shall, during the continuance of this Agreement, maintain proper books of accounts, all relevant payments and receipts and all relevant records and information in relation to the Project. The Grantee shall keep such books and records for a minimum period of seven (7) years after the Completion of the Project, and the Grantor’s representatives shall be allowed access to such books and records for inspection, verification and copying from time to time upon reasonable notice. 6.2 The Grantee shall provide the following documents to the Grantor in the manner specified below:- (a) progress reports before the due date(s) as specified in the relevant guidelines and rules issued by the Grantor from time to time, and a final completion performance and evaluation report on the Project no later than two (2) months following the Completion of the Project. Each such report shall contain a comprehensive evaluation of the extent to which the Project Objective has/have been met. (b) financial reports (with detailed breakdown of its expenditure and income) no later than two (2) months following the Completion of the Project. Any financial reports, statements and certificate submitted hereunder shall be prepared in accordance with accounting principles generally accepted in Hong Kong. All expenditures on the Project should be supported with detailed receipts and payment vouchers. (c) an Audited Account of the Project supported by an auditor’s report no later than six (6) months following the Completion of the Project. The auditor’s report shall include statements expressing the auditor’s opinion on (a) whether the Audited Account is prepared in accordance with this Agreement; and (b) whether the expenditure incurred by the Grantee is made in accordance with this Agreement (particularly the Approved Budget). The auditor’s report shall also make full disclosure of any non-compliance with the Approved Budget. Without prejudice to other rights and remedies of the Grantor under this Agreement, the Grantor is entitled to withdraw the Grant, withhold payment and require the Grantee to immediately return the Grant partially or in full at the Grantor’s discretion in the event that there is a late submission of the Audited Account or auditor’s report or failure to comply with any of the other requirements stipulated in this clause. 6.3 The reports referred to in Clause 6.2 shall be prepared in accordance with such format as required by the Grantor from time to time.

Books and Records, Financial Accounts and Reports. 6.1 The Grantee shall, during the continuance of this Agreement, maintain proper books of accounts, all relevant payments and receipts and all relevant records and information in relation to the Project. The Grantee shall keep such books and records for a minimum period of seven (7) years after the Completion of the Project, and the Grantor’s representatives shall be allowed access to such books and records for inspection, verification and copying from time to time upon reasonable notice. 6.2 The Grantee shall provide the following documents to the Grantor in the manner specified below:- (a) progress reports before the due date(s) as specified in the relevant guidelines and rules issued by the Grantor from time to time, and a final completion performance and evaluation report on the Project no later than two (2) months following the Completion of the Project. Each such report shall contain a comprehensive evaluation of the extent to which the Project Objective has/have been met. (b) final reports with financial reports (with detailed breakdown of its expenditure and income) no later than two (2) months following the Completion of the Project. Any financial reports, statements and certificate submitted hereunder shall be prepared in accordance with accounting principles generally accepted in Hong Kong. All expenditures on the Project should be supported with detailed receipts and payment vouchers. (c) an Audited Account of the Project supported by an auditor’s report no later than six (6) months following the Completion of the Project. The auditor’s report shall include statements expressing the auditor’s opinion on (a) whether the Audited Account is prepared in accordance with this Agreement; and (b) whether the expenditure incurred by the Grantee is made in accordance with this Agreement (particularly the Approved Budget). The auditor’s report shall also make full disclosure of any non-compliance with the Approved Budget. Without prejudice to other rights and remedies of the Grantor under this Agreement, the Grantor is entitled to withdraw the Grant, withhold payment and require the Grantee to immediately return the Grant partially or in full at the Grantor’s discretion in the event that there is a late submission of the Audited Account or auditor’s report or failure to comply with any of the other requirements stipulated in this clause. 6.3 The reports referred to in Clause 6.2 shall be prepared in accordance with such format as required by the Grantor from time to time.

Books and Records, Financial Accounts and Reports. 6.1 The Grantee shall, during the continuance of this Agreement, maintain proper books of accounts, all relevant payments and receipts and all relevant records and information in relation to the Project. The Grantee shall keep such books and records for a minimum period of seven (7) years after the Completion of the Project, and the Grantor’s representatives shall be allowed access to such books and records for inspection, verification and copying from time to time upon reasonable notice. 6.2 The Grantee shall provide the following documents to the Grantor in the manner specified below:- (a) progress reports before the due date(s) as specified in the relevant guidelines and rules issued by the Grantor from time to time, and a final completion performance and evaluation report on the Project no later than two (2) months following the Completion of the Project. Each such report shall contain a comprehensive evaluation of the extent to which the Project Objective has/have been met. (b) a final report with financial reports (with detailed breakdown of its expenditure and income) no later than two (2) months following the Completion of the Project. Any financial reports, statements and certificate submitted hereunder shall be prepared in accordance with accounting principles generally accepted in Hong Kong. All expenditures on the Project should shall be supported with detailed receipts and payment vouchers. (c) an Audited Account of the Project supported by an auditor’s report no later than six (6) months following the Completion of the Project. The auditor’s report shall include statements expressing the auditor’s opinion on (a) whether the Audited Account is prepared in accordance with this Agreement; and (b) whether the expenditure incurred by the Grantee is made in accordance with this Agreement (particularly the Approved Budget). The auditor’s report shall also make full disclosure of any non-compliance with the Approved Budget. Without prejudice to other rights and remedies of the Grantor under this Agreement, the Grantor is entitled to withdraw the Grant, withhold payment and require the Grantee to immediately return the Grant partially or in full at the Grantor’s discretion in the event that there is a late submission of the Audited Account or auditor’s report or failure to comply with any of the other requirements stipulated in this clause. 6.3 The progress reports, final completion performance and evaluation report, final report with financial reports and Audited Account of the Project supported by the auditor’s report referred to in Clause 6.2 shall be prepared in accordance with such format as required by the Grantor from time to time.

Books and Records, Financial Accounts and Reports. 6.1 The Grantee shall, during the continuance of this Agreement, maintain proper books of accounts, all relevant payments and receipts and all relevant records and information in relation to the Project. The Grantee shall keep such books and records for a minimum period of seven (7) years after the Completion of the Project, and the Grantor’s representatives shall be allowed access to such books and records for inspection, verification and copying from time to time upon reasonable notice. 6.2 The Grantee shall provide the following documents to the Grantor in the manner specified below:- (a) progress reports before the due date(s) as specified in the relevant guidelines and rules issued by the Grantor from time to time, and a final completion performance and evaluation report on the Project no later than two (2) months following the Completion of the ProjectProgrammes and Activities. Each such report shall contain a comprehensive evaluation of the extent to which the Project Objective has/have been met.; (b) a final report with financial reports (with detailed breakdown of its expenditure and income) no later than two (2) months following the Completion of the ProjectProgrammes and Activities. Any financial reports, statements and certificate submitted hereunder shall be prepared in accordance with accounting principles generally accepted in Hong Kong. All expenditures on the Project should shall be supported with detailed receipts and payment vouchers.; and (c) an Audited Account of the Project supported by an auditor’s report no later than six (6) months following the Completion of the ProjectProgrammes and Activities. The auditor’s report shall include statements expressing the auditor’s opinion on (a) whether the Audited Account is prepared in accordance with this Agreement; and (b) whether the expenditure incurred by the Grantee is made in accordance with this Agreement (particularly the Approved Budget). The auditor’s report shall also make full disclosure of any non-compliance with the Approved Budget. Without prejudice to other rights and remedies of the Grantor under this Agreement, the Grantor is entitled to withdraw the Grant, withhold payment and require the Grantee to immediately return the Grant partially or in full at the Grantor’s discretion in the event that there is a late submission of the Audited Account or auditor’s report or failure to comply with any of the other requirements stipulated in this clause. 6.3 The progress reports, final completion performance and evaluation report, final report with financial reports and Audited Account of the Project supported by the auditor’s report referred to in Clause 6.2 shall be prepared in accordance with such format as required by the Grantor from time to time.