Shared Internal Audit Service Sample Clauses

Shared Internal Audit Service. 1.5.1 The Host Authority shall undertake the Internal Audit Service function for the Delegating Authority. 1.5.2 The Host Authority shall provide the following reports/plans to the Section 151 Officers of the Delegating Authority: 1.5.2.1 an Annual Audit Plan by January in each year for the following financial year; 1.5.2.2 quarterly updates against the work in the Annual Audit Plan, identifying significant changes; 1.5.2.3 for 2009/10 an Audit Strategy/Charter to be reviewed on an annual basis thereafter; 1.5.2.4 an Annual Report on the standards of internal control within two months following the year end, to inform the Authorities' own Annual Governance Statements, other governance documents and external inspection; and shall report on them to the relevant Committee which will initially be The Audit Committee at Chorley and The Policy and Service Review Scrutiny Committee at South Ribble. 1.5.3 The Services shall be delivered in accordance with the CIPFA Code of Practice for Internal Audit in Local Government in the United Kingdom, guidance from the Institute of Internal Auditors, the requirements of the Accounts and Audit Regulations 2003, the Accounts and Audit (Amendment) (England) Regulations 2006, the requirements of CIPFA/ SOLACE – Delivering Good Governance in Local Government 2007 and best audit practice from time to time. 1.5.4 ISO 9001 (2000), or other internal standard, shall be maintained as the standard for operational performance. 1.5.5 The Services shall be delivered in accordance with the following key controls: 1.5.5.1 the Head of Shared Assurance Services having direct access to the Head of Paid Service, all levels of management, full Council and the Members and relevant Committees of the Authorities; 1.5.5.2 independence in planning and operation; 1.5.5.3 maintenance of strict confidentiality between the authorities when handling data and information; 1.5.5.4 compliance with any applicable regulations and codes of practice; 1.5.5.5 the Head Shared Assurance Services shall be authorised to: (a) access the Authorities' premises at reasonable times; (b) access all assets, records, documents, correspondence, electronic file, software and control systems; (c) receive any information and explanation considered necessary concerning any matter under consideration; (d) require any employee of an Authority to account for cash, stores or any other Authority asset under his or her control; and (e) access records belonging to third parties when re...
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Related to Shared Internal Audit Service

  • Confidentiality (a) Subject to Section 7.15(c), during the Term and for a period of three

  • General The Trustee shall keep proper books of record and account of all the transactions of each Trust under this Indenture at its corporate trust office, including a record of the name and address of, and the Units issued by each Trust and held by, every Unit holder, and such books and records of each Trust shall be open to inspection by any Unit holder of such Trust at all reasonable times during the usual business hours. The Trustee shall make such annual or other reports as may from time to time be required under any applicable state or federal statute or rule or regulations thereunder.

  • Interpretation Nothing herein contained shall be deemed to require the Trust or the Fund to take any action contrary to the Trust’s Declaration of Trust or Bylaws, or any applicable statutory or regulatory requirement to which it is subject or by which it is bound, or to relieve or deprive the Trust’s Board of Trustees of its responsibility for and control of the conduct of the affairs of the Trust or the Fund.

  • Insurance The Company and the Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as are prudent and customary in the businesses in which the Company and the Subsidiaries are engaged, including, but not limited to, directors and officers insurance coverage. Neither the Company nor any Subsidiary has any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business without a significant increase in cost.

  • Indemnification Notwithstanding any contrary provision contained in this Agreement, any election hereunder or any termination of this Agreement, and whether or not this Agreement is otherwise carried out, the provisions of Section 5 shall not be in any way affected by such election or termination or failure to carry out the terms of this Agreement or any part hereof.

  • Force Majeure If by reason of Force Majeure, either party hereto shall be rendered unable wholly or in part to carry out its obligations under this Agreement through no fault of its own then such party shall give notice and full particulars of Force Majeure in writing to the other party within a reasonable time after occurrence of the event or cause relied upon. Upon delivering such notice, the obligation of the affected party, so far as it is affected by such Force Majeure as described, shall be suspended during the continuance of the inability then claimed but for no longer period, and such party shall endeavor to remove or overcome such inability with all reasonable dispatch. In the event that Vendor’s obligations are suspended by reason of Force Majeure, all TIPS Sales accepted prior to the Force Majeure event shall be the legal responsibility of Vendor and the terms of the TIPS Sale Supplemental Agreement shall control Vendor’s failure to fulfill for a Force Majeure event.

  • Entire Agreement This DPA and the Service Agreement constitute the entire agreement of the Parties relating to the subject matter hereof and supersedes all prior communications, representations, or agreements, oral or written, by the Parties relating thereto. This DPA may be amended and the observance of any provision of this DPA may be waived (either generally or in any particular instance and either retroactively or prospectively) only with the signed written consent of both Parties. Neither failure nor delay on the part of any Party in exercising any right, power, or privilege hereunder shall operate as a waiver of such right, nor shall any single or partial exercise of any such right, power, or privilege preclude any further exercise thereof or the exercise of any other right, power, or privilege.

  • WHEREAS the Company desires the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing to so act, in connection with the issuance, registration, transfer, exchange, redemption and exercise of the Warrants; and

  • Governing Law This Agreement shall be governed by and construed in accordance with the laws of the State of New York.

  • NOW, THEREFORE the parties hereto agree as follows:

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