Financial Reporting and Audit Sample Clauses

Financial Reporting and Audit. For the purpose of improving financial transparency and efficiency in public resource use, the Recipient has prepared annual financial reports for at least forty (40) HEIs for the fiscal year 2008 (incorporating all revenues, expenditures and funding sources). For the purpose of ensuring adequate oversight of public fund through audits, the Recipient has completed the audit of the 2008 financial year of at least twenty (20) institutions of HEIs under the control of the MOET.
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Financial Reporting and Audit. The service provider will establish a system for financial management, accounting and audit in the first six months: The service provider will open a separate account for the PSP from which all expenditures will be made and into which all inflows will be deposited. All partners will be expected to maintain separate books of accounts for all expenditures incurred. The service provider and each implementing partner will hire properly qualified staff to maintain the financial management system. The service provider and its consortium partners will provide costed annual work plans. The service provider will provide DFID with quarterly financial reports which include an assessment of value for money. The quarterly financial and performance reports and DFID annual reviews will be used to assess the programme’s and service provider’s performance and influence payments. Payments will be linked to outputs; where the nature of the payment is input oriented staff will be required to maintain time sheets, record all expenditures incurred on the programme activities and keep original copies for the record for the entire duration of the programme. An inventory of all assets procured under the programme will be maintained by the service provider. At the end of the programme period or once contracts have been completed, DFID will decide in consultation with key stakeholders how best to dispose of assets acquired with DFID funding. The service provider will appoint a recognised firm of international standing acceptable to DFID to conduct annual audits of its accounts and those of implementing partners. All audit reports will be shared with DFID. These will test whether funds have been spent as intended and that organisations are delivering value for money.
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Financial Reporting and Audit. 21.1 The ESFA shall specify its requirements as to the information to be contained in the College’s financial statements and how they must be reported in accordance with best practice in the further education sector.
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Financial Reporting and Audit. For the purposes of improving transparency and efficiency in the use of public resources and ensuring adequate oversight of public funds: Prepare annual financial reports for at least twenty (20) HEIs for the fiscal year 2007 (incorporating all revenues, expenditures and funding sources).
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Financial Reporting and Audit. A. Reporting to the Board/Financial Statements‌ The chief executive officer and/or chief financial officer of each Foundation and Affiliate shall provide its board with periodic financial and managerial reports. Each Foundation and Affiliate shall prepare annual financial statements in conformity with GAAP and have them audited by a licensed, independent certified public accounting firm (CPA) in accordance with generally accepted auditing standards. To enable the University to include pertinent information in its annual financial statements, the audit committee and board, if applicable, must accept the audited financial statements within 90 days after the close of a Foundation’s fiscal year.
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Financial Reporting and Audit. For the purposes of improving transparency and efficiency in the use of public resources and ensuring adequate oversight of public funds:
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Financial Reporting and Audit. 10.1 It is the responsibility of the Council to make sure that it complies with all relevant Law and follows the best practice recommendations of relevant accounting and audit professional bodies when preparing and publishing its Annual Report and Accounts.
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Financial Reporting and Audit. 1. The GMCA expect to place significant reliance on the adherence by the Council to the CIPFA Code of Practice on Local Authority Accounting in the UK.
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Financial Reporting and Audit. 1. For the purpose of improving financial transparency and efficiency in public resource use, the Recipient has prepared annual financial reports for at least forty
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Related to Financial Reporting and Audit

  • Accounting and Financial Reporting 6.1. The Bank shall maintain separate records and ledger accounts in respect of the Contributions deposited in the Trust Fund account and disbursements made therefrom.

  • 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.

  • Financial Reports Borrower shall furnish to Agent the financial statements and reports listed hereinafter (the “Financial Statements”):

  • ACCOUNTING AND AUDIT 5.2.1 The Contractor shall maintain and keep accurate Project records (which mean all tangible records, documents, computer printouts, electronic information, books, plans, drawings, specifications, accounts or other information) relating to the Work for a period of seven (7) years from the date of Substantial Performance of the Work. The Contractor shall maintain the original Project records in its office in Ontario until all claims (which means any claim, demand, liability, damage, loss, cost, expense, suit, action or cause of action) have been settled as required by requirements of law.

  • Accounting and Audits Criteria Architect must establish and maintain books, records, and systems of account, in accordance with generally accepted accounting principles, reflecting all business operations of Criteria Architect transacted under this Agreement. Criteria Architect shall retain these books, records, and systems of account during the Term of this Agreement and for three (3) years thereafter. Pursuant to Government Code Section 8546.7, this Agreement is subject to examination and audit of the State Auditor as specified in the code. Criteria Architect shall permit the Judicial Council, its agent, other representatives, or an independent auditor to audit, examine, and make excerpts, copies, and transcripts from all books and original records, and to make audit(s) of all billing statements, invoices, original records, and other data related to the Services covered by this Agreement. Audit(s) may be performed at any time, provided that the Judicial Council shall give reasonable prior Notice to Criteria Architect and will conduct audit(s) during Criteria Architect’s normal business hours, unless Criteria Architect otherwise consents. If an audit or Judicial Council internal review reveals that the Criteria Architect and/or its Subconsultant(s) have overcharged the Judicial Council, Criteria Architect will immediately pay to the Judicial Council the overcharged amount plus interest from the date of receipt of overpayment. The rate of interest will be equal to eighteen percent (18%) per year, or the maximum rate permitted by applicable law, whichever is less. The audit or Judicial Council internal review will be conducted at the Judicial Council’s expense, unless the audit or review reveals that the Criteria Architect and/or its Subconsultant(s) has overcharged the Judicial Council by ten percent (10%) or more on any invoice, in which case the Criteria Architect will reimburse the Judicial Council for all costs and expenses incurred by the Judicial Council in connection with such audit or review, including direct and indirect costs associated with Judicial Council representatives. This remedy shall not be exclusive to any other remedies available to the Judicial Council including, without limitation, a claim against the Criteria Architect for a False Claim pursuant to the False Claims Act (Gov. Code § 12650, et seq.) IMS/Monetary Penalties. The Judicial Council shall be entitled to remedy any “False Claims,” as defined in California Government Code section 12650 et seq., made to the Judicial Council by the Criteria Architect or any Sub-Consultant under the standards set forth in Government Code section 12650 et seq. Any Criteria Architect or Sub-Consultant who submits a False Claim shall be liable to the Judicial Council for three (3) times the amount of damages that the Judicial Council sustains from the False Claim. If Criteria Architect and/or Sub-Consultant submits a False Claim, they shall also be liable to the Judicial Council for: (a) the costs, including attorney fees, of a civil action brought to recover any of those penalties or damages, and (b) a civil penalty of up to $10,000 for each false claim. Accounting System Requirements. Criteria Architect shall maintain and shall ensure that its Sub-Consultant(s) maintain, an adequate system of accounting and internal controls that meets GAAP. The obligations of this Section shall survive the expiration of and any termination of this Agreement.

  • Financial Report The Company shall furnish to the Administrative Agent (for delivery to each of the Lenders):

  • Financial Reporting Requirements The Charter School shall follow the financial requirements of the Charter Schools Section of the Department’s Financial Management for Georgia Local Units of Administration Manual. The Charter School shall submit all information required by the State Accounting Office for inclusion in the State of Georgia Comprehensive Annual Financial Report.

  • Financial Management; Financial Reports; Audits 1. The Recipient shall ensure that a financial management system is maintained in accordance with the provisions of Section 2.07 of the Standard Conditions.

  • Annual Reporting Within 90 days after the close of each of its respective fiscal years, audited, unqualified consolidated financial statements (which shall include balance sheets, statements of income and retained earnings and a statement of cash flows) for Provider for such fiscal year certified in a manner acceptable to the Agent by independent public accountants acceptable to the Agent.

  • Monitoring and Auditing 7.1. Site visits by Sponsor and/or its authorized designee (e.g., Study monitor) will be scheduled in advance for times mutually acceptable to the Parties during normal business hours. Sponsor’s and/or authorized designee’s access is subject to reasonable safeguards to ensure confidentiality of medical records and systems.

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