Common use of Audit Compliance Clause in Contracts

Audit Compliance. Subrecipients who expend $750,000 or more in federal awards during a fiscal year must obtain an annual audit and comply with audit requirements set forth in 2 C.F.R. Part 200, Subpart F. Subrecipients who are under this threshold must submit a completed Audit Reporting Form within 60 days of the end of their fiscal year. The Audit Reporting Form may be downloaded at xxxx://xxx.xxx.xxxxx.xxx/coast/coastal-management/forms/index.html. Entities, such as state agencies and institutions of higher education, subject to the statewide single audit are not required to submit the Audit Reporting Form. All subrecipients are subject to audit. Subrecipients selected for audit must provide the GLO and other agencies of the state and federal government reasonable access to the project site and to project records. Project records and deliverables are subject to the state and federal administrative and audit regulations, including the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (2 C.F.R. Part 200).

Audit Compliance. Subrecipients who expend $750,000 or more in federal awards during a fiscal year must obtain an annual audit and comply with audit requirements set forth in 2 C.F.R. CFR. Part 200, Subpart F. Subrecipients who are under this threshold must submit a completed Audit Reporting Form within 60 days of the end of their fiscal year. The Audit Reporting Form may be downloaded at xxxx://xxx.xxx.xxxxx.xxx/coast/coastal-management/forms/index.html. Entities, such as state agencies and institutions of higher education, subject to the statewide single audit are not required to submit the Audit Reporting Form. All subrecipients are subject to audit. Subrecipients selected for audit must provide the GLO and other agencies of the state and federal government reasonable access to the project site and to project records. Project records and deliverables are subject to the state and federal administrative and audit regulations, including the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (2 C.F.R. Part 200).