Records and Accounting Standards and Principles. Records of costs and expenses reimbursable to Contractor as actual cost of the Work and other costs and expenses pertaining to the Project, reimbursable under the Contract on the basis of actual cost incurred, including additional services performed on the basis of a worker wage rate, shall be kept on the basis of generally accepted accounting principles, and in accordance with cost accounting standards promulgated by the Federal Office of Management and Budget Cost Accounting Standards Board, and shall be maintained and made available for audit by the Owner or the Owner's authorized representative for a period of four (4) years after Final Completion of the Project. Owner will give reasonable notice prior to undertaking such an audit.
Records and Accounting Standards and Principles. Records of costs and expenses reimbursable to CM as actual Cost of the Work and other costs and expenses pertaining to the Project reimbursable under the Contract on the basis of actual cost incurred, including Additional Services performed on the basis of a Worker Wage Rate or a Monthly Salary Rate, shall be kept on the basis of generally accepted accounting principles, and in accordance with cost accounting standards promulgated by the Federal Office of Management and Budget Cost Accounting Standards Board, and shall be maintained and made available for audit by the Owner or the Owner's authorized representative for a period of four (4) years after Final Completion of the Project. Owner will give reasonable notice prior to undertaking such an audit.
Records and Accounting Standards and Principles. Records of expenses pertaining to Design/Build Contractor’s reimbursable as actual Cost of the Work and other costs and expenses pertaining to the Project reimbursable under the Contract on the basis of actual cost incurred, including Additional Services performed on the basis of a Worker Wage Rate or Monthly Salary Rate, shall be kept on the basis of generally accepted accounting principles and in accordance with cost accounting standards promulgated by the Federal Office of Management and Budget Cost Accounting Standards Board and shall be available for audit by the Owner or the Owner's authorized representative for a period of four (4) years after Final Completion of the Project or termination of the Contract. Owner will give reasonable notice prior to undertaking such an audit.
