Common use of FINANCIAL RECORDS AND AUDIT Clause in Contracts

FINANCIAL RECORDS AND AUDIT. (i) Each Related Client will maintain customary and reasonably correct, complete and accurate books and records of account as required by the United States government, the State of California (and any other funding authority such as philanthropic organizations). Each Related Client will deliver all supporting documentation in accordance with the monthly close timeline developed by ExED and provided to Related Client. (ii) Each Related Client will obtain a timely annual audit of its books and records from a qualified independent certified public accounting firm and immediately provide ExED with a copy of any annual audit and related reports, notes or statements. Each Related Client authorizes and instructs ExED to work with its independent accountants on any matter or issue pertinent to the Related Services, and will confirm such authorization upon request by ExED. (iii) Each Related Client covenants that it will respond promptly and professionally to any and all questions or investigations from any governmental investigating or funding authority or Related Client’s auditor, to the extent required by law, including exceptions noted in any independent accountant’s report.

FINANCIAL RECORDS AND AUDIT. (i) Each Related Client will maintain customary and reasonably correct, complete and accurate books and records of account as required by the United States government, the State of California (and any other funding authority such as philanthropic organizations). Each Related Client will deliver all supporting documentation in accordance with the monthly close timeline developed by ExED and provided to Related Client. (ii) Each Related Client will obtain a timely annual audit of its books and records from a qualified independent certified public accounting firm and immediately provide ExED with a copy of any annual audit and related reports, notes or statements. Each Related Client authorizes and instructs ExED to work with its independent itsindependent accountants on any matter or issue pertinent to the Related Services, and will confirm such authorization upon request by ExED. (iii) Each Related Client covenants that it will respond promptly and professionally to any and all questions or investigations from any governmental investigating or funding authority or Related Client’s auditor, to the extent required by law, including exceptions noted in any independent accountant’s report.