the Milestone and period to the report relates; a Budget update (including cost to completion) (in a format similar to that set out in item 2.6 of Schedule 1); and an update on: the progress of the Project relevant to the Outcomes; the Knowledge Sharing Deliverables completed during the period to which the report relates, including a list of any public reports or knowledge sharing reports, data or documentation; and the outcomes of those Knowledge Sharing Deliverables. Progress Reports [insert] Each progress report must include an update on: whether the Project is proceeding in accordance with the Budget and, if it is not, an explanation of why the Budget is not being met, the effect this will have on the Project and the action the Recipient proposes to take to address this; the progress on achieving the Outcomes; any issues or developments which have arisen and the effect they will have on the Project; and any proposed changes to the Project. Final Report [insert] [Drafting note: this date should be a specified date or linked to a Milestone date (not the End Date)] The Report must include: a description and analysis of the progress of the Project, including: evidence that the Project has been completed, and the Milestones have been achieved; details of the extent to which the Project achieved the Outcomes; any highlights, breakthroughs or difficulties encountered; and conclusions or recommendations (if any) arising from the Project; a description of the Knowledge Sharing Deliverables in accordance with item 4 of Schedule 1, with all of the Knowledge Sharing Deliverables completed as at the date of the Final Report;
statistics for employment generated by or in connection with the Project; analysis of the effectiveness of each of the Knowledge Sharing Deliverables completed; and for any on-going Knowledge Sharing Deliverables, an update of progress in undertaking each Knowledge Sharing Deliverable. An acquittals statement certified by the Recipient's Financial Officer (or such other person approved by ARENA) The acquittals statement is to be provided by [insert] The acquittals statement must certify: that all ARENA Funding, Recipient Contributions and Other Contributions were spent for the purpose of the Project in accordance with this Agreement and that the Recipient has complied with this Agreement; and that salaries and allowances paid to persons involved in the Project are in accordance with any applicable or agreement in force under any relevant law on industrial or workplace relations. Audited financial statements prepared by an Approved Auditor in accordance with Accounting Standards in respect of the ARENA Funding, Recipient Contributions and Other Contributions Within [insert] after the end of each financial year during the term of this Agreement or otherwise at ARENA’s request The audited financial statements must include: a definitive statement as to whether the financial information for the Project represents the financial transactions fairly and is based on proper accounts and records; if the Recipient is a company, a separate declaration from the Recipient's directors that the Recipient is solvent, a going concern and able to pay its debts as and when they fall due; and detail of any ARENA Funding returned to ARENA by the Recipient and the reasons for such refund. In this item 3.1, the following terms have the following meaning: Accounting Standards means the standards of that name maintained by the Australian Accounting Standards Board (referred to in section 227 of the Australian Securities and Investments Commission Act 2001 (Cth)) or other accounting standards which are generally accepted and consistently applied in Australia; An Approved Auditor is a person who is: registered as a company auditor under the Corporations Act 2001 (Cth) or an appropriately qualified member of the Institute of Chartered Accountants in Australia, CPA Australia or the Institute of Public Accountants; not a principal, member, shareholder, officer, agent, subcontractor or employee of the Recipient, an Project Participant or a Related Body Corporate of the Recipient or an Project Participant; and not the Recipient's accountant.