Guidance Note: Where the Project Owner is using this Agreement for a Project in a jurisdiction other than Victoria, the Project Owner will need to revisit and amend the reference to the Auditor-General of the State of Victoria (in paragraph (h)) as appropriate for that jurisdiction. |
(a) The Proponent must keep and maintain:
(1) an adequate internal control system (including policies, controls and procedures) for the effective planning, performance and reporting of the Services in accordance with this Agreement;
(2) books of account kept in accordance with recognised accounting principles which, among other things, clearly show the amounts that are payable by the Project Owner under this Agreement and ledgers solely related to the performance of the Services; and
(3) all of their records and other documentation referred to in this Agreement that relate to the Services, at the principal place of business in [insert relevant jurisdiction] of the Proponent.
(b) The Project Owner or its nominated auditor may at any time during the AD Phase and for a period of 12 months thereafter, audit, inspect, transcribe, investigate or copy, the quality system and the records referred to in clause 12.7(a) and any document prepared or maintained by the Proponent for the purposes of performing the Proponent's obligations under this Agreement.
(c) The Proponent will provide whatever records, documents, access, facilities or assistance is necessary to conduct whatever audit, inspection, transcription, investigation or copying is required by the Project Owner or its nominated auditor.
(d) In the course of an audit under clause 12.7(b), the Project Owner or its nominated auditor may:
(1) review and assess the reliability, integrity, timeliness and accuracy of financial operating information relating to the Services, and the means and systems used to identify, measure, classify and report such information; and
(2) interview relevant staff of the Members.
(e) At the conclusion of an audit under clause 12.7(b), the Project Owner must, acting reasonably, determine the actions (if any) required to be taken by the Proponent to rectify problems, weaknesses, deficiencies or non-compliance detected during the audit including whether the Proponent must reimburse the Project Owner for any payments in excess of the value of the Services performed.
(f) Any records or documents provided to the Project Owner or its nominated auditor or to which the Project Owner or its nominated auditor has access to or any information obtained through any audit, inspection or investigation must be treated as confidential information in accordance with clause 18.9.
(g) If this Agreement is terminated, the Proponent must give the Project Owner any records referred to in clause 12.7(a). The Project Owner must allow the Proponent access to those books of account and records for a period of two years after the last day of the accounting period to which the record relates.
(h) For the purposes of this clause 12.7, all of the references to the nominated auditor of the Project Owner will include the Auditor-General of the State of Victoria.