(a) If an audit shows that any of the statements or accounts are not accurate, complete and correct, or that the private party is not complying with its obligations, then the private party must rectify the problem and the cost of the audit will be for the private party's account. With respect to government's audit right in section 35.6.2, government will be allowed to carry out additional inspections to assess the private party's compliance with its requirement to carry out any rectification work.
(b) If the inaccuracy has affected any payment made to the private party, the next scheduled payment will be reduced, or increased, by an appropriate adjustment amount (as determined by government).
(c) Where a financial audit discloses any fraud, collusive, misleading or deceptive reporting, this will constitute an Event of Default.152
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