Common use of Federal Audit Requirements Clause in Contracts

Federal Audit Requirements. Grantee agrees that if it expends an aggregate amount of seven hundred fifty thousand dollars ($750,000.00) or more in federal funds during its fiscal year, it must undergo an organization-wide financial and compliance single audit. Xxxxxxx agrees to comply with the audit requirements of

Federal Audit Requirements. Grantee agrees that if it expends an aggregate amount of seven hundred fifty thousand dollars ($750,000.00) or more in federal funds during its fiscal year, it must undergo an organization-wide financial and compliance single audit. Xxxxxxx agrees to comply with the audit requirements ofof U.S. General Accounting Office Government Auditing Standards and Audit Requirements of 2 CFR Part 200, Subpart F. If findings are made which cover any part of this Contract,