Common use of General Audit Provisions Clause in Contracts

General Audit Provisions. The Contractor is responsible for obtaining the necessary audit and securing the services of a certified public accountant or other independent governmental auditor. Federal regulations preclude public accountants licensed in the Commonwealth of Pennsylvania from performing audits of Federal awards. The Commonwealth reserves the right for Federal and State agencies or their authorized representatives to perform additional audits of a financial or performance nature, if deemed necessary by Commonwealth or Federal agencies. Any such additional audit work will rely on work already performed by the Contractor’s auditor, and the costs for any additional work performed by the Federal or State agencies will be borne by those agencies at no additional expense to the Contractor. Audit documentation and audit reports must be retained by the Contractor’s auditor for a minimum of five (5) years from the date of issuance of the audit report, unless the Contractor’s auditor is notified in writing by the Commonwealth or the cognizant or oversight Federal agency to extend the retention period. Audit documentation will be made available upon request to authorized representatives of the Commonwealth, the cognizant or oversight agency, the Federal funding agency, or the Government Accountability Office.