Common use of Internal Financial Controls Clause in Contracts

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.