Common use of Financial Records and Annual Audit Clause in Contracts

Financial Records and Annual Audit. The school agrees to establish, maintain and retain appropriate financial records in accordance with all applicable federal, state and District laws, rules and regulations and procedures.

Financial Records and Annual Audit. The school School agrees to establish, maintain and retain appropriate financial records in accordance with all applicable federal, state and District local laws, rules and regulations regulations, and proceduresto make such records available to the Institute, as requested, from time to time. The School shall participate in an annual audit of its financial operations by a certified public accountant, the cost of which shall be borne by the School.