FINANCIAL MANAGEMENT AND AUDIT Sample Clauses

FINANCIAL MANAGEMENT AND AUDIT. A18.1 You must operate sound financial management systems and procedures. A18.2 Where we have serious concerns (based on reasonable grounds) that you are not operating sound financial management systems and procedures, without limiting any of our other rights in this Agreement, we may: a. request that you provide, to an independent auditor appointed by us at our cost, within 30 days of our request: i. your financial statements (as that term is defined in section 6 of the Financial Reporting Act 2013), or accounting information relating to your current financial position, including access to your expenditure and revenue transactions; ii. your financial statements or accounts for your most recent complete financial year (audited or otherwise, as required by us); and/or iii. a solvency certificate from a Chartered Accountant; and b. arrange for that independent auditor to audit: i. the correctness of the information you give us under clause A18.2(a); ii. your calculations of the cost of providing the Services; and
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FINANCIAL MANAGEMENT AND AUDIT. A18.1 You must operate sound financial management systems and procedures. A18.2 Where we have serious concerns (based on reasonable grounds) that you are not operating sound financial management systems and procedures, without limiting any of our other rights in this Agreement, we may: a. request that you provide, to an independent auditor appointed by us at our cost, within 30 days of our request: i. your financial statements (as that term is defined in section 6 of the Financial Reporting Act 2013), or accounting information relating to your current financial position, including access to your expenditure and revenue transactions; ii. your financial statements or accounts for your most recent complete financial year (audited or otherwise, as required by us); and/or iii. a solvency certificate from a Chartered Accountant; and b. arrange for that independent auditor to audit: i. the correctness of the information you give us under clause A18.2(a); ii. your calculations of the cost of providing the Services; and iii. your financial position. A18.3 The independent auditor: a. must not disclose details of your costs of providing the Services; but b. may advise us if he or she considers that your financial position may prejudice, or otherwise affect, your ability to carry out your obligations under this Agreement. A18.4 If the independent auditor so advises us under clause A18.3(b), we may carry out an Audit.
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FINANCIAL MANAGEMENT AND AUDIT. You must operate sound financial management systems and procedures in relation to a. the Services;
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FINANCIAL MANAGEMENT AND AUDIT. A18.1 You must operate sound financial management systems and procedures. A18.2 Where we have serious concerns (based on reasonable grounds) that you are not operating sound financial management systems and procedures, without limiting any of our other rights in this Agreement, we may: a. request that you provide, to an independent auditor appointed by us at our cost, within 30 days of our request: i. a copy of your most recent accounts; ii. any previous year’s accounts (audited or otherwise, as required by us); and/or iii. a solvency certificate from an appropriately qualified Person; and
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FINANCIAL MANAGEMENT AND AUDIT. ADB received the Audited Project Financial Statement (APFS) for the fiscal year 2023 on 30 June 2024 with an unqualified opinion on the financial statement and qualified opinion on the loan utilization. The mission requested CPMU to consolidate follow up actions on the audit findings by 31 August 2024. The EA has liquidated the project advance account so that the original deposit amount of $5.25 million has been reduced to Action By Due by
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FINANCIAL MANAGEMENT AND AUDIT. Processing of withdrawal applications (WA) and reimbursement of on granting activities is delayed by lengthy process at CPMU level and lack of guidance from the financial management specialists at CPMU, MOHA and MOA to the district and provincial agencies. The documentation for reimbursement submitted to CPMU is also often incomplete. Backlog or expenditures utilizing advance account is not reported to ADB resulting in delayed liquidation/replenishment (i.e. US$1.2 million or 41% of the initial advance deposited in Bank Indonesia). On 20 April 2020, the State Audit Agency (BPK) informed that the FY2019 audit report will be completed by Q3 2020 due to COVID-19. To address those issues the following actions have been agreed: Operationalize the tracking system for processing of on granting reimbursement activities after verification of documents by CPIU CPMU, MOA, MOHA Immediate Mobilize financial assistant in provincial and district agencies to accelerate utilization of on granting funds. CS02 17 July 2020 Provide guidance/checklist (to PPIUs and DPIUs) of required documents in preparation/submission of reimbursement of on-granting activities CS02 31 July 2020 Submit WAs to ADB for on-granting activities and CW04A initial payment CPMU 31 July 2020 Provide training on CPD to CPIU, CPMU and others ADB As needed Provide ADB with an update on the refund to the advance account for travel expenditures and VAT of vehicles as recommended by BPK in the APFS FY2018 DGWR 31 July 2020 Submit APFS FY2019 to ADB CPMU 31 Dec 2020 14. Implementation, Procurement and Disbursement Plans The mission updated the procurement plan (Attachment 3) and will request for approval from ADB to disclose this on the ADB website. All project activities are expected to be completed within the original period. The contract awards and disbursement projections have been revised and agreed with the executing agency. Detailed contract awards and disbursement projections for 2020 are presented in Attachment 4. Reallocation from MOA and MOHA CDD components to civil works will be assessed in Q4 2020, depending on the implementation progress. Despite extensive consultations, the CPMU has not yet submitted the updated Project Administration Manual (XXX) to ADB, which was due in September 2019. It is noted that in April 2020, ADB approved MOA proposal to revise the XXX. Update contract awards and disbursement projections CPMU 10 July 2020 then quarterly Submit the updated XXX to ADB CPMU 30 July 2020
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Related to FINANCIAL MANAGEMENT AND AUDIT

  • Financial Management, Financial Reports and Audits 1. The Recipient shall maintain or cause to be maintained a financial management system in accordance with the provisions of Section 4.09 of the General Conditions. 2. Without limitation on the provisions of Part A of this Section, the Recipient shall prepare and furnish to the Association not later than forty-five (45) days after the end of each calendar quarter, interim unaudited financial reports for the Project covering the quarter, in form and substance satisfactory to the Association. 3. The Recipient shall have its Financial Statements audited in accordance with the provisions of Section 4.09(b) of the General Conditions. Each audit of the Financial Statements shall cover the period of one (1) fiscal year of the Recipient. The audited Financial Statements for each such period shall be furnished to the Association not later than six (6) months after the end of such period.

  • Financial Management Government financing and accounting activities (e.g., billing and accounting, credit/charge, expense management, payroll, payment/settlement, debt collection, revenue management, internal controls, auditing, activity based management, currency translation). Asset/Material Management: Acquisition and management of Federal government assets (property/asset management, asset cataloging/identification, asset transfer/allocation/maintenance, facilities management, computers/automation management). Development and Integration: Development and integration of systems across diverse operating platforms (e.g., legacy integration, enterprise application integration, data integration, instrumentation/testing, software development). Human Capital/Workforce Management Development and Integration: Planning and supervisory operations surrounding government personnel (e.g., resource planning/allocation, skills management, workforce directory/locator, team/organization management, contingent workforce management).

  • Monitoring and Audit Seller shall provide information on available audit logs and reports relating to cyber and physical and security. Company may audit Seller's records to ensure Seller's compliance with the terms of this Section 1(b)(iii)G (Critical Infrastructure Protection) of this Attachment B (Facility Owned by Seller), provided that Company has provided reasonable notice to Seller and any such records of Seller's will be treated by Company as confidential.

  • General Management In the discharge of its general duty to manage the successful performance of the Services, Vendor shall: 3.2.1.1. within thirty (30) calendar days of the Effective Date, identify to Citizens the primary and secondary management contacts responsible for the oversight and management of Services for Citizens; 3.2.1.2. ensure Vendor Staff tasked with management and oversight of the Services are available promptly to perform Services during Business Hours; 3.2.1.3. ensure each assigned Adjuster submits a time record directly to Vendor’s manager or point of contact. At any time during this Agreement, Citizens may require copies of time records from Vendor; 3.2.1.4. ensure that no Vendor Staff carries a weapon on their person while performing Services; 3.2.1.5. ensure that no Vendor Staff uses impairing drugs, chemicals, or alcohol while performing Services; 3.2.1.6. ensure that Vendor Staff avoid using their duties and obligations under this Agreement to engage in any conduct that could create either an actual or perceived conflict of interest, such as due to an ongoing business relationship with an entity other than Citizens that would enable Vendor Staff to receive an improper benefit or unfair competitive advantage; 3.2.1.7. ensure that the Services comply with the Best Claims Practices & Estimating Guidelines as applicable to each Service Category and any other policies or processes set forth by Citizens, including but not limited to: a. monitoring applicable file production on a weekly basis to determine compliance with Citizens’ production requirements; and, b. providing detailed reports to Citizens related to Vendor performance upon request.

  • Asset Management Supplier will: i) maintain an asset inventory of all media and equipment where Accenture Data is stored. Access to such media and equipment will be restricted to authorized Personnel; ii) classify Accenture Data so that it is properly identified and access to it is appropriately restricted; iii) maintain an acceptable use policy with restrictions on printing Accenture Data and procedures for appropriately disposing of printed materials that contain Accenture Data when such data is no longer needed under the Agreement; iv) maintain an appropriate approval process whereby Supplier’s approval is required prior to its Personnel storing Accenture Data on portable devices, remotely accessing Accenture Data, or processing such data outside of Supplier facilities. If remote access is approved, Personnel will use multi-factor authentication, which may include the use of smart cards with certificates, One Time Password (OTP) tokens, and biometrics.

  • ACCOUNTING AND AUDIT The Agency shall utilize and maintain such records and practices regarding receipts and disbursements of the Funds as to be in accordance with generally accepted accounting principles. All such records shall be open to inspection and audit by the City or by the City's designee during normal business hours during the term hereof and for a period of three (3) years after the termination of this Agreement. Any cost incurred by the Agency as a result of a City audit shall be the sole responsibility of and shall be borne by the Agency. In addition, should the Agency provide any or all of the Funds to sub-recipients, then and in that event the Agency shall include in written agreements with such sub-recipients a requirement that records of the sub-recipient be open to inspection and audit by the City or the City's designee to the same extent as those of the Agency.

  • Information Management Information and Records

  • Cloud Computing State Risk and Authorization Management Program In accordance with Senate Bill 475, Acts 2021, 87th Leg., R.S., pursuant to Texas Government Code, Section 2054.0593, Contractor acknowledges and agrees that, if providing cloud computing services for System Agency, Contractor must comply with the requirements of the state risk and authorization management program and that System Agency may not enter or renew a contract with Contractor to purchase cloud computing services for the agency that are subject to the state risk and authorization management program unless Contractor demonstrates compliance with program requirements. If providing cloud computing services for System Agency that are subject to the state risk and authorization management program, Contractor certifies it will maintain program compliance and certification throughout the term of the Contract.

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