Article 12 Auditor and audited report

Every system vendor shall, every four years and, in addition, upon request from the F1CAA, submit an independently audited report detailing the ownership structure and governance model. Costs related to the audited report shall be borne by the system vendor.

The system vendor shall inform the CAA of the identity of the auditor before confirmation of the appointment. The CAA may object and, within two months and after consultation with the auditor, the system vendor and any other party claiming a legitimate interest, shall decide whether or not the auditor is to be replaced.