Common use of Record Keeping and Audits Clause in Contracts

Record Keeping and Audits. a. During the performance of this Agreement and for a period of five years after its completion, Contractor agrees to maintain a proper system of accounting and auditable records, in a manner consistent with generally accepted accounting principles, to account for the expenditure of all funds provided by this agreement, including any and all direct and indirect costs expended, and to make these records available for review upon request by OOD representatives at all reasonable times, including regular working hours. Contractor further agrees to retain all records and reports for a period of not less than five years following audits by the appropriate state and federal auditing agencies or until questions arising from the audit have been resolved, whichever is later.

Record Keeping and Audits. a. During the performance of this Agreement and for a period of five (5) years after its completion, Contractor agrees to maintain a proper system of accounting and auditable records, in a manner consistent with generally accepted accounting principles, to account for the expenditure of all funds provided by this agreement, including any and all direct and indirect costs expended, and to make these records available for review upon request by OOD representatives at all reasonable times, including regular working hours. Contractor further agrees to retain all records and reports for a period of not less than five (5) years following audits by the appropriate state and federal auditing agencies or until questions arising from the audit have been resolved, whichever is later. OOD reserves the right to inspect and audit any and all pertinent records, as determined by OOD, relative to this Agreement.

Record Keeping and Audits. a. During the performance of this Agreement and for a period of five years after its completion, Contractor agrees to maintain a proper system of accounting and auditable records, in a manner consistent with generally accepted accounting principles, to account for the expenditure of all funds provided by this agreement, including any and all direct and indirect costs expended, and to make these records available for review upon request by OOD representatives at all reasonable times, including regular working hours. Contractor further agrees to retain all records and reports for a period of not less than five years following audits by the appropriate state and federal auditing agencies or until questions arising from the audit have been resolved, whichever is later. OOD reserves the right to inspect and audit any and all pertinent records, as determined by OOD, relative to this Agreement.