Internal Financial Controls. Internal Audit plays a key role in providing an assurance to Management with respect to the Company having adequate Internal Control Systems. The Internal Control Systems provide, among other things, reasonable assurance of recording the transactions of its operations in all material respects and of providing protection against significant misuse or loss of Company’s assets. The Internal Auditors submit their Report periodically which is placed before and reviewed by the Audit Committee.
Internal Financial Controls. The Corporation maintains a system of control over financial reporting sufficient to provide reasonable assurance that: (i) transactions are completed in accordance with the general or a specific authorization of management of the Corporation; (ii) transactions are recorded as necessary to permit the preparation of financial statements for the Corporation (on a consolidated basis) in conformity with IFRS and to maintain asset accountability; (iii) access to assets of the Corporation and its Subsidiaries is permitted only in accordance with the general or a specific authorization of management of the Corporation; and (iv) the recorded accountability for assets of the Corporation and its Subsidiaries is compared with the existing assets of the Corporation and its Subsidiaries at reasonable intervals and appropriate action is taken with respect to any differences therein.
Internal Financial Controls. The fiscal controls, accounting procedures and financial reporting shall be performed in accordance with Generally Accepted Accounting Principles (GAAP) and Contractor shall be responsible for implementing and maintaining procedures and internal financial controls governing the management and utilization of funds provided in this Contract. Contractor shall understand and use applicable federal Office of Management and Budget (OMB) cost and administrative circulars, and applicable federal and state laws and regulations in budgeting and expending the public funds under this contract. Contractors must maintain cost allocation plans that properly allocate costs between management/administrative functions and operations, as well as among the various service modules funded by BWDB. Contractors’ cost allocation plans must meet BWDB requirements and will be reviewed by Board staff. Costs shall be tracked in sufficient detail to determine compliance with prescribed cost categories and Contract requirements to the extent that they are expended on the program covered by this Contract and to ensure funds have not been unlawfully spent. All expenditures must be necessary and reasonable for proper and efficient administration of the program and allowable under the appropriate funding source. Contractor represents and warrants that it has implemented administrative controls to identify customer costs that are supported by other Federal, State, or local programs to ensure costs are not being duplicated or comingled. The commingling of funds with other funding sources is prohibited. Contractor costs or earnings claimed under one contract or grant may not be claimed under any other contract or grant and Contractor shall maintain fiscal capacity in accordance with the proposal submitted resulting in the award of this Contract.
Internal Financial Controls. 2.8.1 Contractor shall be responsible for implementing procedures and internal financial controls governing the management and utilization of funds provided hereunder. Contractor shall maintain its books, records, and documents (including electronic storage media) in accordance with generally accepted accounting principles and practices which sufficiently and properly reflect all revenues and expenditures of funds provided by CSTB under this Contract.
2.8.2 Contractor will maintain separate accounting records for all funds expended under the Contract and shall track costs in sufficient detail to determine compliance with applicable laws and regulations. All expenditures shall be allowable, allocable, necessary and reasonable for proper and efficient operation of the program under the appropriate funding source administered.
Internal Financial Controls. The Company maintains a system for disclosure controls and procedures and internal control over financial reporting (as such terms are defined in Regulation 52-109) which controls are effective and sufficient to provide reasonable assurance that: (i) transactions are completed in accordance with the general or a specific authorization of management of the Company; (ii) transactions are recorded as necessary to permit the preparation of financial statements for the Company (on a consolidated basis) in conformity with IFRS and to maintain asset accountability; (iii) access to assets of the Company and its subsidiaries is permitted only in accordance with the general or a specific authorization of management of the Company; and (iv) the recorded accountability for assets of the Company and its subsidiaries is compared with the existing assets of the Company and its subsidiaries at reasonable intervals and appropriate action is taken with respect to any differences therein. There is no material weakness (as such term is defined in Regulation 52-109) relating to the design, implementation or maintenance of its internal control over financial reporting, or fraud, whether or not material, that involves management or other employees who have a significant role in the internal control over financial reporting of the Company. As of the date hereof, neither the Company nor, to the knowledge of the Company, any representative of the Company has received or otherwise obtained knowledge of any complaint, allegation, assertion, or claim, whether written or oral, regarding accounting, internal accounting controls or auditing matters, including any reasonable complaint, allegation, assertion, claim or expression of concern that the Company has engaged in questionable accounting or auditing practices.
Internal Financial Controls. The School Governing Authority shall submit copies of all policies and procedures regarding internal financial controls, including the School’s credit card policy, adopted and include them as Attachment 2.8 in this charter agreement.
Internal Financial Controls. (a) TFC maintains for itself and its Subsidiaries a standard system of accounting established and administered in accordance with GAAP.
(b) Since December 31, 2006, (i) none of TFC, its Subsidiaries, or any director or officer, or, to the knowledge TFC, any employee, accountant or auditor of TFC or any of its Subsidiaries, has received or otherwise had or obtained knowledge of any complaint, allegation, assertion or claim, whether written or oral, regarding the accounting or auditing practices and procedures of TFC or any of its Subsidiaries or their respective internal accounting controls and (ii) there have been no internal investigations regarding accounting or revenue recognition discussed with, reviewed by or initiated at the direction of the chief executive officer, chief financial officer, general counsel, the board of directors or any committee thereof.
(c) Since December 31, 2001, no attorney representing TFC or any of its Subsidiaries, whether or not employed by TFC or any subsidiary, has reported evidence of a material violation of securities laws, breach of fiduciary duty or similar violation by TFC or any Subsidiary or any of their respective officers, directors, employees or agents to the board of directors of TFC or any Subsidiary, or to any committee thereof.
(d) To the knowledge of TFC, no employee of TFC or any Subsidiary has provided or is providing information to any law enforcement agency regarding the commission or possible commission of any crime or the violation or possible violation of any applicable law. To the knowledge of TFC, none of TFC, the Subsidiaries, nor any officer, employee, contractor, subcontractor or agent of TFC or any Subsidiary has discharged, demoted, suspended, threatened, harassed or in any other manner discriminated against an employee of TFC or any Subsidiary in the terms and conditions of employment because of any act of such employee described in 18 U.S.C. Section 1514A(a).
Internal Financial Controls. (a) To the knowledge of the Company, the Company maintains and will continue to maintain until the Effective Time for the Company and its Subsidiaries a standard system of accounting established and administered in accordance with GAAP.
(i) Since December 31, 2003, none of the Company or its Subsidiaries or any director, or officer, or, to the knowledge of the Company, any employee, accountant or auditor of the Company or its Subsidiaries, has received or otherwise had or obtained knowledge of any complaint, allegation, assertion or claim, whether written or oral, regarding the accounting or auditing practices and procedures of the Company or its Subsidiaries or their respective internal accounting controls.
(ii) To the knowledge of the Company, no attorney representing the Company or its Subsidiaries, whether or not employed by the Company or its Subsidiaries, has reported evidence of a material violation of securities laws, breach of fiduciary duty or similar violation by the Company or any of its officers, directors, employees or agents to the board of directors or any committee thereof or to any director or officer of the Company.
(iii) Since December 31, 2003, there have been no internal investigations regarding accounting or revenue recognition discussed with, reviewed by or initiated at the direction of the chief executive officer, chief financial officer, general counsel, the board of directors or any committee thereof.
(c) To the knowledge of the Company, no employee of the Company or its Subsidiaries has provided or is providing information to any law enforcement agency regarding the commission or possible commission of any crime or the violation or possible violation of any applicable Law. To the knowledge of the Company, none of the Company or its Subsidiaries, nor any officer, employee, contractor, subcontractor or agent of the Company or any such Subsidiary has discharged, demoted, suspended, threatened, harassed or in any other manner discriminated against an employee of the company or any Subsidiary in the terms and conditions of employment because of any act of such employee described in 18 U.S.C. ss. 1514A(a).
Internal Financial Controls. Contractor shall be responsible for implementing accounting procedures and internal financial controls governing the management and utilization of the awarded funds provided hereunder. The procedures and financial controls must be established pursuant to generally accepted accounting procedures, and as required by the various rules and regulations that govern the use of the federal money that funds this Agreement. Contractor will track costs in sufficient detail to determine compliance with the Workforce Innovation and Opportunity Act of 2014, Public Law 105-220, (U.S.C. Section 9201 et. seq), the Workforce Innovation Act of 2000, Chapter 2000-165 Laws of Florida and any amendments or regulation promulgated thereunder, and insure that all funds have been lawfully and properly spent. All expenditures must be allowable, allocable, necessary and reasonable for proper and efficient operation of the program. Contractor will maintain separate accounting records for funds expended under this Agreement. The commingling of funds with other agreements or contracts is prohibited. Contractor shall inform CareerSource of its receipt or its subcontractors' receipt of any Federal, State or local grant that may materially affect the quality or cost of the services provided under this Agreement. In such case, CareerSource shall have the right to renegotiate the price or deliverable performance of this Agreement.
Internal Financial Controls. Contractor shall be responsible for implementing accounting procedures and internal financial controls governing the management and utilization of the awarded funds provided hereunder. The procedures and financial controls must be established pursuant to generally accepted accounting procedures, and as required by the various rules and regulations that govern the use of the federal money that funds this Agreement. Contractor will track costs in sufficient detail to determine compliance with the Workforce Investment Act of 1998, Public Law 105-220, (U.S.C. Section 9201 et. seq), the Workforce Innovation Act of 2000, Chapter 2000-165 Laws of Florida and any amendments or regulation promulgated thereunder, and insure that all funds have been lawfully and properly spent. All expenditures must be allowable, allocable, necessary and reasonable for proper and efficient operation of the program. Contractor will maintain separate accounting records for funds expended under this Agreement. The commingling of funds with other agreements or contracts is prohibited. Contractor shall inform Alliance of its receipt or its subcontractors' receipt of any Federal, State or local grant that may materially affect the quality or cost of the services provided under this Agreement. In such case, Alliance shall have the right to renegotiate the price or deliverable performance of this Agreement.
