Common use of Financial Management, Financial Reports and Audits Clause in Contracts

Financial Management, Financial Reports and Audits. 1. No later than ninety (90) days from the date of effectiveness, the Borrower, through the CFU, shall have, under terms of reference and in a manner acceptable to the Bank, installed and adapted appropriate accounting software for Project accounting, budgeting and reporting. 2. The Borrower, through the CFU, shall maintain or cause to be maintained a financial management system in accordance with the provisions of Section 5.09 of the General Conditions.