Project Financial Statements definition

Project Financial Statements means, with respect to the Projects, (i)revenue and expense detail for all Projects prepared on the accrual basis of accounting identified to be audited by PWC for the period ended September 30, 2004, and (ii) revenue and expense detail for all Projects with appropriate accrual basis adjustments as deemed necessary by PWC for the periods ended September 30, 2004. In addition, the Seller is to deliver to the Purchaser the audited statements prepared for each Project for the year ended December 31,2004, once complete.

Project Financial Statements has the meaning set forth in Section 4.7(b).

Project Financial Statements has the meaning set forth in Section 5.15.1.

Examples of Project Financial Statements in a sentence

• A single opinion on the Audited Project Financial Statements in compliance with International Standards on Auditing (ISA) will be required.

• The audited Project Financial Statements for each such period shall be furnished to the Association not later than six (6) months after the end of such period.

• A single opinion on the Audited Project Financial Statements in compliance with International Federation of Accountant (IFAC) will be required.

• The project financial reporting includes quarterly IFRs and yearly Project Financial Statements (PFS).

• Each audit of the Project Financial Statements shall cover the period of one fiscal year of the Recipient, commencing with the fiscal year in which the first withdrawal was made.

• An opinion on the Audited Project Financial Statements in compliance with International Standards on Auditing (ISA) will be required.

• The Project Financial Statements have been prepared for the purpose of reporting to the IBRD on the activities of the Project related to funds received for the completion of the Project objectives in accordance with the IBRD Loan Agreement.

• The Audit will cover Project Financial Statements from all institutions and SPIUs. Audits will be carried out in accordance with TORs acceptable to the Bank.

• The audited Project Financial Statements will be published on the MSTI website within two months after the Bank has sent an official audit acknowledgement letter.

• The essence of Audit Policy is to ensure adequate independent, professional audit assurance that the funds received by implementing agencies were used for the purposes intended, that the Annual Project Financial Statements are free from material misstatement, and that the terms of fund release were complied with in all material respects.