Common use of Financial Statement Audit Clause in Contracts

Financial Statement Audit. Within one hundred eighty (180) calendar days from the close of its fiscal year, Provider’s independent certified public accounting firm (CPA) must electronically submit to The Children’s Trust all the following documents, which together comprise an Annual Financial Statement Audit conducted in accordance with GAAP and standards contained in Government Auditing Standards issued by the Comptroller General of the United States (The Yellow Book). The required items are: a. An annual financial statement audit performed by a CPA firm that is licensed and registered to conduct business with the Florida Department of Business and Professional Regulation. b. An Annual Financial Statement Audit conducted in accordance with auditing standards generally accepted in the United States of America, and the standards applicable to financial audits contained in Government Auditing Standards. c. Written communication encompassing the requirements of AU-C section 265, “Communicating Internal Control Related Matters Identified in an Audit.” d. Written communication encompassing the requirements of AU-C section 260, “The Auditor’s Communication With Those Charged With Governance.” e. A Single Audit conducted in accordance with OMB “Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards” or the Florida Single Audit Act, section 215.97, Florida Statutes, if applicable. f. A management letter; if no management letter is prepared by Provider’s CPA firm, then the CPA firm must expressly confirm, in writing, that no management letter was issued. If Provider’s Annual Financial Statement Audit is prepared by the Florida Auditor General, then the due date for submitting the annual financial statement audit, as defined, is two hundred seventy (270) calendar days after the close of Provider’s fiscal year. If Provider is required to have a Single Audit, it agrees to have its CPA firm submit the schedule of expenditures pertaining to awards, summary schedule of prior audit findings, applicable auditor’s reports and the corrective action plan, if applicable.

Financial Statement Audit. Within one hundred eighty (180) calendar days from the close of its fiscal year, Provider’s independent certified public accounting firm (CPA) must electronically submit to The Children’s Trust all the following documents, which together comprise an Annual Financial Statement Audit conducted in accordance with GAAP and standards contained in Government Auditing Standards issued by the Comptroller General of the United States (The Yellow Book). The required items are: a. An annual financial statement audit audit, performed by a CPA firm that is licensed and registered to conduct business with the Florida Department of Business and Professional Regulation. b. An Annual Financial Statement Audit conducted in accordance with auditing standards generally accepted in the United States of America, and the standards applicable to financial audits contained in Government Auditing Standards. c. Written communication encompassing the requirements of AU-C section 265, “Communicating Internal Control Related Matters Identified in an Audit.” d. Written communication encompassing the requirements of AU-C section 260, “The Auditor’s Communication With Those Charged With Governance.” e. A Single Audit conducted in accordance with OMB “Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards” or the Florida Single Audit Act, section Florida Statutes 215.97, Florida Statutes, if applicable. f. A management letter; if no management letter is prepared by Provider’s CPA firm, then the CPA firm must expressly confirm, in writing, that no management letter was issued. If Provider’s Annual Financial Statement Audit is prepared by the Florida Auditor General, then the due date for submitting the annual financial statement audit, as defined, is two hundred seventy (270) calendar 270)calendar days after the close of Provider’s fiscal year. If Provider is required to have a Single Audit, it agrees to have its CPA firm submit the schedule of expenditures pertaining to awards, summary schedule of prior audit findings, applicable auditor’s reports and the corrective action plan, if applicable.