Common use of Your audited statements Clause in Contracts

Your audited statements. (a) You must provide Us with the following documents, by the dates specified in Item 10 of the Service Agreement (Part C)- Specifications: (i) an annual audited statement of income and expenditure reporting all items relating to the delivery of the Services; and (ii) a balance sheet or extracts from the balance sheet which disclose details of assets and liabilities pertaining to the Funding (if the Service Agreement (Part C) – Specifications, specifies the format of this balance sheet You will deliver the required information to Us in that format). (b) Your audited statements of income and expenditure, balance sheets or extracts from the balance sheet must be certified by an independent qualified accountant who has had no involvement in the preparation of these statements or accounts of Your organisation, is not an employee or a member of Your organisation and who is: (i) registered as a company auditor or a public accountant under Queensland law; (ii) a member of the Institute of Chartered Accountants in Australia or the Australian Society of Certified Practising Accountants; or (iii) a person whose accounting qualifications are accepted by Us. (c) If You are a local government or a tertiary institution, You may give Us, instead of the requirements set out in this clause 4.5(a), a statement set out in the format of the Financial Acquittal Report (as specified in the Service Agreement (Part C) – Specifications) specifying the details of the Funding and certified by the chief accounting officer or equivalent.