IPC Financial Statements Sample Clauses
The IPC Financial Statements clause requires the provision, preparation, or disclosure of financial statements related to an International Project Contract (IPC). Typically, this clause outlines the format, frequency, and standards (such as GAAP or IFRS) that the financial statements must adhere to, and may specify who is responsible for preparing and delivering them. By establishing clear expectations for financial reporting, this clause ensures transparency and accountability between parties, helping to monitor financial performance and manage risks associated with the project.
IPC Financial Statements. Each of the audited consolidated financial statements and unaudited consolidated interim financial statements of IPC (including any related notes and schedules) included (or incorporated by reference) in its Annual Reports on Form 10-K for each of the two fiscal years ended December 31, 2001 and 2002 (the "IPC Financial Statements"), and any subsequent IPC SEC Report, has been prepared from, and is in accordance with, the books and records of IPC, complies in all material respects with applicable accounting requirements and with the SEC's published rules and regulations, has been prepared in accordance with GAAP (except in the case of unaudited statements, as permitted under Form 10-Q under the Exchange Act) applied on a consistent basis (except as may be indicated in the notes thereto) and fairly presents in all material respects in conformity with GAAP applied on a consistent basis (except as may be indicated in the notes thereto), the consolidated financial position of IPC as of the date thereof and the consolidated results of operations and cash flows (and changes in financial position, if any) of IPC for the periods presented therein (subject to normal year-end adjustments and the absence of financial footnotes in the case of any unaudited interim financial statements).