Common use of FINANCIAL AUDIT REPORT REQUIREMENTS FOR PASS-THROUGH ENTITIES Clause in Contracts

FINANCIAL AUDIT REPORT REQUIREMENTS FOR PASS-THROUGH ENTITIES. If County determines that Contractor is a “subrecipient” (also known as a “pass-through entity”) as defined in 2 C.F.R. § 200 et seq., Contractor represents that it will comply with the applicable cost principles and administrative requirements including claims for payment or reimbursement by County as set forth in 2 C.F.R. § 200 et seq., as may be amended from time to time. Contractor shall observe and comply with all applicable financial audit report requirements and standards.