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Auditing Services Agreement

Unless otherwise agreed in writing, all proposals or evaluation audits (the “services”) submitted to one of SGS Societe Generale`s affiliates of Supervisory Company SA or one of its representatives (a company) to a candidate for services (the “customer”) are subject to these terms and conditions of sale and represent the entire agreement (the “contract”) between the client and the entity concerned. The review section of a service agreement contains the provisions that define the right of access and the verification of one party to the information of another party in order to determine whether that party agrees with the agreement. Depending on the scope of the review fee, the review section can range from one paragraph to the entire exhibition to the contract. It is important to clarify whether cooperation costs are covered by a review by royalties due under the agreement. If the taxes do not cover the costs of the review under the agreement, it may be useful for the audited party to reimburse its costs to the audited party if the review leads to findings of non-compliance. It is not uncommon to include in the royalty review provisions a threshold whereby the costs of the review are borne by the non-compliant party (for example). B if the exam gives a difference between 5 and 10% for the service fee). An essential requirement of each review rule is the obligation to correct findings of non-compliance. In some cases, this is a cooperation between the audit entity and the audited party, which may include an audit, the development of a recovery plan and the approval of the plan by the audited entity. In other cases, z.B.

if the controlled entity is the service provider, the service provider may provide the same services to many customers and such cooperation may not be possible. This report addresses some key issues when it comes to developing appropriate review law provisions. Parties should review the types of review fees that may be required as part of a service agreement and develop audit fees accordingly. How many times can the audited party conduct audits? Depending on the length of the contract and the nature of the services received by the client, an annual review may be appropriate. In other cases, the auditing entity may require more frequent audits, for example. B when the audit entity is active in a highly regulated area and government authorities need access or if the controlled party has a history of infringement. In addition, the audit party should consider whether it needs audit fees after closing. The latter is typical of fee trials and usually lasts up to one year after the end of the contract.

Defining the purpose of the audit is an important first step, as the objective often determines the nature of the information and the extent of access available to the audit entity under the agreement. In general, the purpose of the audit is to verify compliance with the provisions of the agreement. However, the parties can also closely adapt audit rights. For example, royalty controls are generally limited to verifying the accuracy of royalties and royalties paid, and data security audits are limited to testing the effectiveness of a party`s data security checks. (g) Additional charges are charged for transactions that are not included in the contract and/or (ii) emergency orders, cancellations or service changes, or for partial or full repetitions payable at applicable business rates.