Independence and Objectivity Sample Clauses

Independence and Objectivity. The IRO must perform the IRO Reviews in a professionally independent and objective fashion, as defined in the most recent Government Auditing Standards issued by the United States Government Accountability Office.
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Independence and Objectivity. The IRO must perform the Drawdown Review in a professionally independent and objective fashion, as defined in the most recent Government Auditing Standards issued by the U.S. Government Accountability Office. The Compliance Expert must perform the Compliance Program Review in a professionally independent and objective fashion, as defined in the most recent Government Auditing Standards issued by the U.S. Government Accountability Office.
Sample 1
Independence and Objectivity. Members shall use reasonable care and judgment to achieve and maintain independence and objectivity in making investment recommendations or taking investment action.
Sample 1
Independence and Objectivity. This section relates to Allegation 2. The Respondents were exposed to threats to their independence and objectivity and failed to guard against them. First, the Respondents failed to guard against the self-interest threat created by the substantial fees they generated in providing non-audit services to the Taveta Group: 34.1 In 2014, the Taveta Group paid PwC £355,000 in audit fees and £2,859,778 in non-audit fees. PwC’s report to Xxxxxx’s audit committee suggests that the figure was even higher, at £3,303,000. The value of non-audit services that PwC sold to the Taveta Group therefore exceeded the value of the audit services that it sold to the Taveta Group by a factor of eight. In 2012 and 2013 the factor was three and in 2015 the factor was five. 34.2 In addition, the Respondents charged Xxxxxx a contingency fee in relation to a pensions incentive exercise. Ethical Standard 4 warned that contingent fee arrangements for non-audit work provided by a client’s auditor “can create significant self-interest threats to the auditor’s objectivity and independence as the auditor may have, or may appear to have, an interest in the outcome of the non-audit service”. 34.3 The fees generated from this non-audit work risked inappropriately influencing the Respondents’ judgment or behaviour. The Ethical Standards warn against this. Ethical Standard 5 (the standard relating specifically to “non-audit services provided to audited entities”) stated: “Where substantial fees are regularly generated from the provision of non-audit services and the fees for non-audit services are greater than the annual audit fees, the audit engagement partner has regard to the possibility that there may be perceived to be a loss of independence resulting from the expected or actual level of fees for non-audit services.” Second, the Respondents failed to guard against the familiarity threat created by the non-audit work they performed for the Taveta Group: 35.1 As noted above, the Respondents performed a substantial amount of non-audit work for the Taveta Group. Xxxxx Xxxxxxx, A and B were involved in performing this non-audit work. PwC was also appointed as liquidator of a number of dormant subsidiaries in the Taveta Group. Xxxxx Xxxxxxx was the single point of contact at PwC for Xxx Xxxxxx Xxxxx and had a central role in the provision of non-audit services generally. Xxxxx Xxxxxxx had a long or close business association with the client. In describing his role in 2013, Xxxxx Xxxxxxx said th...
Sample 1

Related to Independence and Objectivity

  • IRO Independence and Objectivity The IRO must perform the Claims Review in a professionally independent and objective fashion, as defined in the most recent Government Auditing Standards issued by the U.S. Government Accountability Office.

  • Independence and Objectivity Certification Prior to performing the first Quarterly Claims Review, and annually thereafter, the IRO shall submit to Practitioner a certification that the IRO has (a) evaluated its professional independence and objectivity with respect to the reviews required under this Section III.C and (b) concluded that it is, in fact, independent and objective, in accordance with the requirements specified in Appendix A to this IA. The IRO’s certification shall include a summary of all current and prior engagements between Practitioner and the IRO.

  • Scope and Objectives 1. This Partnership Agreement (hereinafter referred to as the “Agreement”) defines the rights and obligations of the Parties and sets forth the terms and conditions of their cooperation in the implementation of the Project. 2. The Parties shall act in accordance with the legal framework of the EEA Financial Mechanism 2014-2021, namely with the Regulation on the implementation of the EEA Financial Mechanism 2014-2021 (hereinafter referred to as the “Regulation”). The Parties expressly acknowledge to have access to and to be familiar with the content of the Regulation. 3. Any Annexes to this Agreement constitute an integral part of the Agreement. In case of inconsistencies between the Annexes and the Agreement, the latter shall prevail.

  • BACKGROUND AND OBJECTIVES The partnership proposed by the Cooperator was selected due to merit review evaluations from the 2017 Notice of Funding Opportunity P17AS00037. The Cooperator demonstrated expertise in disciplines and subject areas of relevance to cooperative research and training. The Cooperator met the program interests of NPS with expertise, facilities, experience, diversity of programs, and history of collaborative research projects. The Cooperator helps the NPS-CESU to meet its objectives to:  Provide research, technical assistance and education to NPS for land management, and research;  Develop a program of research, technical assistance and education that involves the biological, physical, social, and cultural sciences needed to address resources issues and interdisciplinary problem-solving at multiple scales and in an ecosystem context at the local, regional, and national level; and  Place special emphasis on the working collaboration among NPS, universities, and their related partner institutions. The CESU network seeks to provide scientifically-based information on the nature and status of selected biological, physical, and cultural resources occurring within the parks in a form that increases its utility for making management decisions, conducting scientific research, educating the public, developing effective monitoring programs, and developing management strategies for resource protection. Studying the resources present in NPS parks benefits the Cooperator’s goal of advancing knowledge through scientific discovery, integration, application, and teaching, which lead toward a holistic understanding of our environmental and natural resources. The Cooperator is a public research university, sharing research, educational, and technological strengths with other institutions. Through inter-institutional collaboration, combined with the unique contributions of each constituent institution, the Cooperator strives to contribute substantially to the cultural, economic, environmental, scientific, social and technological advancement of the nation. The NPS expects there to be substantial involvement between itself and the Cooperator in carrying out the activities contemplated in this Agreement. The primary purpose of this study is not the acquisition of property or services for the direct benefit or use by the Federal Government, but rather to accomplish a public purpose of support or stimulation authorized the Legislative Authorities in ARTICLE II. This agreement fulfills the Public Purpose of support and economic stimulation for the following reasons:  Projects will engage recipients, partners, communities, and/or visitors in shared environmental stewardship.  Projects will promote greater public and private participation in historic preservation programs and activities. The project builds resource stewardship ethics in its participants.  The information, products and/or services identified or developed by projects will be shared through a variety of strategies to increase public awareness, knowledge and support for historic preservation and stewardship of the nation’s cultural and historical heritage.  Projects will support the Government’s objective to provide opportunities for youth to learn about the environment by spending time working on projects in National Parks. The NPS receives the indirect benefit of completing conservation projects.  Projects will motivate youth participants to become involved in the natural, cultural and /or historical resource protection of their communities and beyond.  Students gain “real world” or hands-on experience outside of the classroom of natural, cultural and/or historical resource projects.  The scientific community and/or researchers external to NPS gains by new knowledge provided through research and related results dissemination of natural, cultural and/or historical resource information.  Projects assist in the creation, promotion, facilitation, and/or improvement of the public’s understanding of natural, cultural, historic, recreational and other aspects of areas such as ecological conservation areas, and state and local parks. For performance under this cooperative agreement, the regulations set forth in 2 CFR, Part 200, supersedes OMB Circulars A–21 (2 CFR 220), A–87 (2 CFR 225), A–110, and A–122 (2 CFR 230); Circulars A–89, A–102, and A–133; and the guidance in Circular A–50 on Single Audit Act follow–up apply. The Cooperator shall adhere to 2 CFR, Part 200 in its entirety in addition to any terms and conditions of the master agreement not superseded by 2 CFR 200, as well as the terms and conditions set forth in this agreement. In the event of a conflict between the original terms of the master agreement and 2 CFR, Part 200, relating to this task agreement, 2 CFR, Part 200 shall take precedence.

  • Aims and Objectives 3.1 The Aims and Objectives of this Agreement are set out in Schedule 1.

  • Goals and Objectives The purpose of this Agreement is to ensure that the proper elements and commitments are in place to provide consistent service support and delivery to the customers by the Service Providers. The goal of this Agreement is to obtain mutual agreement for the provision of information and communication between the Service Provider and customer. The objective of this Agreement is to: • Provide clear reference to service ownership, accountability, roles and responsibilities. • Present clear, concise and measurable description of service provision to the customer. • Match perceptions of the expected service provision with actual service support and delivery.

  • Purpose and Objectives The primary purpose of this procedure shall be to obtain, at the lowest administrative level and in the shortest period of time, equitable solutions to grievances which may arise from time to time. Grievance proceedings shall be handled confidentially.

  • Benchmarks for Measuring Accessibility For the purposes of this Agreement, the accessibility of online content and functionality will be measured according to the W3C’s Web Content Accessibility Guidelines (WCAG) 2.0 Level AA and the Web Accessibility Initiative Accessible Rich Internet Applications Suite (WAI-ARIA) 1.0 for web content, which are incorporated by reference.

  • Program Objectives Implement a rigorous constructability program following The University of Texas System, Office of Facilities Planning and Construction Constructability Manual. Identify and document project cost and schedule savings (targeted costs are 5% of construction costs). Clarification of project goals, objectives.

  • Performance and Compliance Purchaser shall have performed all of the covenants and complied, in all material respects, with all the provisions required by this Agreement to be performed or complied with by it on or before the Closing.

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