State's Right to Audit Sample Clauses
The "State's Right to Audit" clause grants the state the authority to review and examine the records, documents, and activities of a contractor or service provider to ensure compliance with contractual obligations and applicable laws. In practice, this means the state may access financial records, invoices, and performance reports related to the contract, often with advance notice and during normal business hours. This clause serves to promote transparency, accountability, and proper use of public funds by allowing the state to detect and address any discrepancies, fraud, or misuse of resources.
State's Right to Audit. Upon reasonable notice Consultant shall permit the Commissioner of Transportation, the State Comptroller or any other duly authorized agent of the State or Federal Government to inspect all books, records and accounts relating to the Project.
State's Right to Audit. The State may demand an accounting by the Trustee, any Registrar and any Paying Agent of the funds and investments of the State held by them, and the Trustee, Registrar or Paying Agent, as the case may be, shall respond within ten business days to any request by the State for such an accounting. The State may have an audit of the bonds and accounts of the Trustee, Registrar and Paying Agent performed by an independent firm of certified public accountants relevant to the funds and investments of the State held by them. The cost of that audit shall be paid by the State unless the audit demonstrates that a material error was made by the Trustee, Registrar or Paying Agent in the handling of the funds and investments of the State hereunder, in which case the cost of the audit shall be paid by the Trustee, Registrar or Paying Agent, as the case may be.