Financial Statement Audit. If, during its fiscal year, Grantee expends less than $750,000 in Federal Awards, Grantee is subject to the following audit requirements:
Financial Statement Audit. If, during its fiscal year, Grantee expends less than $750,000 in federal pass-through funds from State Grants, Grantee must follow all of the audit requirements in Paragraphs 15.3(c)(i)-(v), above.
Financial Statement Audit. If Grantee expends less than $750,000 in Federal Awards during its fiscal year and is not subject to the audit requirements in 15.2, but receives between $300,000 and $499,999 in Federal and State Awards combined, Grantee must have a financial statement audit conducted in accordance with Generally Accepted Auditing Standards(GAAS); if Grantee expends between $500,000 and $749,999 in Federal and State awards combined, Grantee must have a financial statement audit conducted in accordance with Generally Accepted Government Auditing Standards (GAGAS). Grantee shall submit these financial statement audit reports to Grantor either within (i) 30 calendar days after receipt of the auditor’s report(s) or (ii) 180 calendar days after the end of the audit period, whichever is earlier.
Financial Statement Audit. Annually, no later than February 15, the parties agree that for the purpose of this Agreement, the CNA must submit its audited financial statements along with the independent auditor’s opinion thereon. In addition to the financial statement audit, the CNA must also submit any other formal audit related communications. For example, communications that may include recommendations to improve internal controls over financial reporting for the federal program that includes, at a minimum: (Assets, Liabilities, Expenses, Cash Flows from operating activities, investments, reserves, employee-related benefits, Leases, Hotel contracts, and legal matters) a summary of prior audit findings and corrective action plans. The CNA shall implement all recommendations related to material weaknesses or significant deficiencies in internal control over financial reporting. The audit shall be performed by an independent Certified Public Accounting Firm.
Financial Statement Audit. If Provider expends between $300,000 and $749,999 in Federal funds combined, Provider must have a financial statement audit conducted in accordance with Generally Accepted Government Auditing Standards (GAGAS).
Financial Statement Audit. The Company will obtain an annual audit of its financial statements with respect to each Fiscal Year and, to the extent that quarterly review procedures of the Company’s financial statements are required to be performed in order for a Member to meet its reporting obligations as a public company, the Company will cause such review procedures to be performed, in each case from or by a nationally recognized independent registered public accounting firm. The Company will furnish the Members with a copy of such audited or reviewed financial statements as provided in Section 11.5. Any exceptions to the audited statements rendered must be made by a Member within one year from its receipt and, if no exception is made within that time, the statements will be considered to be correct.
Financial Statement Audit. Within one hundred eighty (180) calendar days from the close of its fiscal year, Provider’s independent certified public accounting firm (CPA) must electronically submit to The Children’s Trust all the following documents, which together comprise an Annual Financial Statement Audit conducted in accordance with GAAP and standards contained in Government Auditing Standards issued by the Comptroller General of the United States (The Yellow Book). The required items are:
Financial Statement Audit. If, during its fiscal year, Grantee expends less than the threshold amount as set out in 2 CFR 200.501(a) in federal pass-through funds from State-issued Awards, Grantee must follow all of the audit requirements in Paragraphs 12.3(c)(i)-(v), above.
Financial Statement Audit. Contractors exempt from the Single Audit requirements with fiscal years that receive $750,000.00 or more in total funding from the Department in State and Federal grant funding must submit to the Department a Financial Statement Audit prepared in accordance with generally accepted auditing standards (GAAS).
Financial Statement Audit. Contractors exempt from the Single Audit and Financial Related Audit requirements that receive $500,000 or more in total funding from the Department in State and Federal grant funding must submit to the Department a Financial Statement Audit prepared in accordance with generally accepted auditing standards (GAAS). Contractors exempt from the Single Audit and Financial Related Audit requirements that receive less than $500,000 of total Department grant funding must submit to the Department a Financial Statement Audit prepared in accordance with GAAS if the audit includes disclosures that may negatively impact MDCH-funded programs including, but not limited to fraud, going concern uncertainties, financial statement misstatements, and violations of contract and grant provisions.
