Concessionaire’s Audit Sample Clauses

Concessionaire’s Audit. Concessionaire shall employ an independent Certified Public Accountant (CPA) at Concessionaire’s cost, to perform an audit of the books and records of Concessionaire, as they pertain to this Agreement, for each Agreement Year, or applicable portion thereof, and Concessionaire shall follow all recommendations made by the independent auditor. Such audit shall be in a format and in detail satisfactory to the County and shall include all the following: 12.4.1.1 An audited statement of Gross Revenue shall be submitted to the County by no later than one hundred twenty (120) days following the last day of every Agreement Year. An independent CPA shall conduct such audit, and include all business transacted at the Premises under the terms of this Agreement by Concessionaire during the preceding Agreement Year, and excluding any other business transacted by Concessionaire; and DocuSign Envelope ID: D0555DA6-6904-497B-BF05-0AE30EE2F6B0 12.4.1.2 A written statement, by such CPA, to the County stating that in the CPA’s opinion, the Rent and other required fees paid by Concessionaire to the County for the preceding Agreement Year were paid in accordance with the terms of this Agreement; and 12.4.1.3 Copies of any reports prepared by such CPA or by Concessionaire’s internal audit staff for Concessionaire relating exclusively to this Agreement, and specifically describing any strengths or weaknesses of internal fiscal controls; and 12.4.1.4 A management letter prepared by such CPA for Concessionaire relating exclusively to this Agreement, and specifically describing Concessionaire’s internal accounting controls as they relate to cash handling, processing of receipts and security of cash at the Premises, based on examination and testing of such controls by such CPA, including a control analysis of the strengths and weaknesses of such controls; and 12.4.1.5 if the results of any such audit show any discrepancy as compared to the amount of Concessionaire’s Gross Revenue at the Premises, as reported to County by Concessionaire, Concessionaire shall pay County the difference in Rent payments or County shall reimburse Concessionaire within thirty (30) calendar days following discovery of such discrepancy; and 12.4.1.6 If Concessionaire fails to perform its obligations under this section, after thirty (30) days’ notice by the County, the County may employ an independent CPA to perform the required audit and, in addition to any difference in Rent due the County from such audit, ...
Sample 1
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Related to Concessionaire’s Audit

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