Common use of Meets Standard Clause in Contracts

Meets Standard. The school materially complies with applicable laws, rules, regulations and provisions of the charter contract relating to financial management and oversight expectations as evidenced by an annual independent audit, including but not limited to: • An unqualified audit opinion • An audit devoid of significant findings and conditions, material weaknesses or significant internal control weaknesses • An audit that does not include a going concern disclosure in the notes or an explanatory paragraph within the audit report

Meets Standard. The school materially complies with applicable laws, rules, regulations and provisions of the charter contract relating to financial management and oversight expectations as evidenced by an annual independent audit, including but not limited to: •  An unqualified audit opinion •  An audit devoid of significant findings and conditions, material weaknesses or significant internal control weaknesses •  An audit that does not include a going concern disclosure in the notes or an explanatory paragraph within the audit report