Common use of FINANCIAL RECORDS AND AUDIT Clause in Contracts

FINANCIAL RECORDS AND AUDIT. (i) The Client will maintain customary and reasonably correct, complete and accurate records and other supporting information which will enable ExED to render the Services hereunder The Client will deliver all supporting documentation in accordance with the monthly close timeline developed by ExED and provided to Client. If Client submits required supporting documentation after monthly close deadline, ExED cannot guarantee on-time submission of financial reports for Client management review and/or Client board meetings. (ii) The Client will obtain an annual audit of its books and records no later than 168 days from the end of its Fiscal Year from a state- approved Auditor and immediately provide ExED with a copy of any annual audit and related reports, notes or statements. Client authorizes and instructs ExED to work with Client’s Auditor on any matter or issue pertinent to the Services and will confirm such authorization upon request by ExED. (iii) Client covenants that it will respond promptly and professionally to any and all questions or investigations from the Chartering Authority, any governmental investigating or funding authority or Client’s Auditor, to the extent required by law, including exceptions noted in any independent accountant’s report, in each case, to the extent required by law and to effectively render the Services.

FINANCIAL RECORDS AND AUDIT. (i) The Client will maintain customary and reasonably correct, complete and accurate records and other supporting information which will enable ExED to render the Services hereunder The Client will deliver all supporting documentation in accordance with the monthly close timeline developed by ExED and provided to Client. If Client submits required supporting documentation after monthly close deadline, ExED cannot guarantee on-time submission of financial reports for Client management review and/or Client board meetings. (ii) The Client will obtain an annual audit of its books and records no later than 168 days from at the end of its each Fiscal Year from a state- state-approved Auditor and immediately provide ExED with a copy of any annual audit and related reports, notes or statements. Client authorizes and instructs ExED to work with Client’s Auditor on any matter or issue pertinent to the Services and will confirm such authorization upon request by ExED. (iii) Client covenants that it will respond promptly and professionally to any and all questions or investigations from the Chartering Authority, any governmental investigating or funding authority or Client’s Auditor, to the extent required by law, including exceptions noted in any independent accountant’s report, in each case, to the extent required by law and to effectively render the Services.