Performance of Audits. For those organizations required to submit an independent audit report, the audit is to be conducted by a Certified Public Accountant or Certified Public Accounting Firm licensed in the State of Illinois. For audits required to be performed subject to Government Auditing Standards, Provider shall request and maintain on file a copy of the auditor’s most recent peer review report and acceptance letter.
Performance of Audits. For those organizations required to submit an independent audit report, the audit is to be conducted by a Certified Public Accountant or Certified Public Accounting Firm licensed in the state of Illinois or in accordance with Section 5.2 of the Illinois Public Accounting Act (225 ILCS 450/5.2). For all audits required to be performed subject to Generally Accepted Government Auditing standards or Generally Accepted Auditing standards, Grantee shall request and maintain on file a copy of the auditor’s most recent peer review report and acceptance letter. Grantee shall follow procedures prescribed by Grantor for the preparation and submission of audit reports and any related documents.
Performance of Audits. For those organizations required to submit an independent audit report, the audit is to be conducted by the Illinois Auditor General (as required for certain governmental entities only), or a Certified Public Accountant or Certified Public Accounting Firm licensed in the State of Illinois or in accordance with Section 5.2 of the Illinois Public Accounting Act (225 ILCS 450/5.2). For all audits required to be performed subject to Generally Accepted Government Auditing standards or Generally Accepted Auditing standards, Grantee shall request and maintain on file a copy of the auditor’s most recent peer review report and acceptance letter. Grantee shall follow procedures prescribed by Grantor for the preparation and submission of audit reports and any related documents.
Performance of Audits. For those organizations required to submit an independent audit report, the audit must be conducted by the Illinois Auditor General (as required for certain governmental entities only), or a Certified Public Accountant or Certified Public Accounting Firm licensed in the State of Illinois or in accordance with Section 5.2 of the Illinois Public Accounting Act (225 ILCS 450/5.2). For all audits required to be performed subject to GAGAS or Generally Accepted Auditing Standards, Grantee must request and maintain on file a copy of the auditor’s most recent peer review report and acceptance letter. Grantee must follow procedures prescribed by Grantor for the preparation and submission of audit reports and any related documents.
Performance of Audits. NANOGEN and PBM shall each have the right, at their sole respective expense, to conduct, a product or Net Revenues Audit, upon thirty (30) calendar days’ written notice to the other Party, during such Party’s normal business hours, of all records, documents, processes, procedures, and facilities directly associated with the manufacture, processing, packaging, sales and distribution of NANOGEN Reagents or the Development Products, as the case may be, as well as with the receipt, storage, and issuance of raw materials, labeling and packaging components, and ingredients thereof. Notwithstanding the immediately preceding sentence, in the event of a rejection by one Party of the Development Product or Nanogen Reagent supplied by the other Party because of a failure to meet specifications, then the rejecting Party shall have an additional right to conduct an Audit under the provisions of this Article. In no event shall an Audit exceed two (2) days in duration unless mutually agreed in writing by the parties. Each Party warrants that all inspections and Audits hereunder shall be carried out in a manner that does not unreasonably interfere with the other Party’s normal and ordinary conduct of business and that insures the continued confidentiality of such other Party’s other business and technical information. Audits may be conducted by no more than two (2) representatives of a Party. Any such representatives shall be qualified in terms of auditing skill to conduct Audits, shall execute a written agreement to maintain in confidence all information obtained during the course of any such Audit except for disclosure to the senior representatives of such Party, and shall comply with the normal security at the manufacturing site. Both Parties shall also have the right to perform a sales audit of Development Product of the other Party, and to authorize sales audits of the Development Product of the other Parties by third parties to the extent necessary to comply with its obligations arising under any license or other agreement under which it has an obligation to make payments to the third party. PBM and NANOGEN shall also require its subdistributors of Development Products to permit audits by NANOGEN, PBM or third parties to the extent necessary to comply with NANOGEN’s or PBM’s obligations under agreements with third parties.
Performance of Audits. Buyer or its Affiliates shall have the right, at Buyer’s sole expense, to conduct an Audit, upon thirty (30) calendar days written notice to Supplier (the notice must identify any specific audit requests and necessary contact person), no more than one (1) time per calendar year, during Supplier’s normal business hours, of all records, documents, processes, procedures, and facilities directly associated with the manufacture, processing, and packaging of the Product, as well as with the receipt, storage, and issuance of raw materials, labeling and packaging components, and ingredients thereof. Notwithstanding the immediately preceding sentence, in the event of a rejection of Product by Buyer because of a failure to meet Product Specifications, then Buyer shall have the right to request an additional Audit under the provisions of this Article 7.1 with consent to such additional Audit not being unreasonably withheld by Supplier. In no event shall an Audit exceed two (2) business days in duration and in no event shall more than two (2) auditors be allowed in the Facility unless mutually agreed in writing by the parties. Buyer warrants that all inspections and Audits hereunder shall be carried out in a manner that does not unreasonably interfere with Supplier’s normal and ordinary conduct of business and that ensures the continued confidentiality of Supplier’s other business and technical information. Any such Buyer representatives shall be reasonably qualified in terms of auditing skill to conduct Audits, shall execute a written agreement to maintain in confidence all information obtained during the course of any such Audit except for disclosure to Buyer, and shall comply with Supplier’s normal security and safety regulations. Buyer’s exercise or failure to exercise any of its rights to audit Supplier’s Facility or records pursuant to this Section shall in no way alter or affect Supplier’s obligations under this Agreement.
Performance of Audits. SYN.X and PBM shall each have the right, at their sole respective expense, to conduct an Audit, upon thirty (30) calendar days’ written notice to the other Party, during such Party’s normal business hours, of all records, documents, processes, procedures, and facilities directly associated with the manufacture, processing, packaging, sales and distribution of Reagents or the POC Rapid Assays, as the case may be, as well as with the receipt, storage, and issuance of raw materials, labeling and packaging components, and ingredients thereof. Notwithstanding the immediately preceding sentence, in the event of a rejection of by one Party of the product supplied by the other Party because of a failure to meet specifications, then the rejecting party shall have an additional right to conduct an Audit under the provisions of this Article. In no event shall an Audit exceed two (2) days in duration unless mutually agreed in writing by the parties. Each Party warrants that all inspections and Audits hereunder shall be carried out in a manner that does not unreasonably interfere with the other Party’s normal and ordinary conduct of business and that insures the continued confidentiality of such other Party’s other business and technical information. Audits may be conducted by no more than two (2) representatives of a Party. Any such representatives shall be qualified in terms of auditing skill to conduct Audits, shall execute a written agreement to maintain in confidence all information obtained during the course of any such Audit except for disclosure to the senior representatives of such Party, and shall comply with the normal security at the manufacturing site.
