School Delay in Audit Clause Samples
The 'School Delay in Audit' clause defines the procedures and consequences if a school causes a delay in the audit process. Typically, this clause outlines the responsibilities of the school to provide timely access to records and personnel, and may specify what constitutes a delay, such as failing to respond to auditor requests within a set timeframe. Its core function is to ensure accountability and minimize disruptions in the audit process by clarifying the school's obligations and the potential repercussions of non-compliance, thereby promoting efficient and transparent financial oversight.
School Delay in Audit. If the School’s annual audit is delayed and that delay results
School Delay in Audit. If the School’s annual audit is delayed and that delay results in the School and/or the district receiving a “late audit report” finding, the APS Charter School Office shall notify the Authorizer and the School with that information once the audit is released publically. The
School Delay in Audit. If the School’s annual audit is delayed and that delay results in the School and/or the district receiving a “late audit report” finding, the APS Charter School Office shall notify the Authorizer and the School with that information once the audit is released publically. The Authorizer may determine that the “late audit report” finding constitutes a violation of this Contract or the Performance Framework indicators and shall provide the School a reasonable opportunity to submit an explanation for the audit finding in addition to its “management response” for the Authorizer’s review. The APS Board of Education may make an independent determination of whether it considers the School’s “late audit finding” a material violation of this Contract based on the School’s response to the audit finding and take appropriate action including imposition of the sanctions as set forth in NMSA 1978, 22-8-12.1 or as otherwise provided by law.
School Delay in Audit. If, for causes within the School’s control, and after the Authorizer provides the School with written notice of potential default and an opportunity to timely provide the requested information, the School audit is not completed on or before the given deadline for each year, it shall be considered a material breach of this Contract. The Authorizer shall provide written verification and evidence to the auditor and the School that the School caused the late audit and that the delay was within the School’s control. The school shall have 5 (five) business days to respond to the assertion by the Authorizer that it caused the late audit.
School Delay in Audit. If, for causes within the School’s control, the School’s annual audit is delayed, and that delay results in the School and/or the NMPED receiving a “late audit report” finding, the NMPED shall notify the Authorizer and the School with that information once the audit is released publically. The Authorizer may determine that the “late audit report” finding constitutes a violation of this Contract or the Performance Framework indicators and shall provide the School with written notice of potential default under this Contract and a reasonable opportunity to timely present the requested information by a date certain. If the School audit is not completed within that time frame,submit an explanation for the audit finding in addition to its “management response” for the Authorizer’s review The PEC may make an independent determination of whether it shall be consideredconsiders the School’s “late audit finding” a material violation of this Contract. The NMPED shall provide written evidence to the auditor and to the School that the School caused the late audit and that the delay was within based on the School’s control.response to the audit finding and take appropriate action including imposition of the sanctions as set forth in ▇▇▇▇ ▇▇▇▇, 22-8-12.1 or as otherwise provided by law. .