Common use of Initiating the Compliance Review Clause in Contracts

Initiating the Compliance Review. ‌ 1. An SSA-appointed CPA firm will perform an annual audit that all authorized transactions are complete and accurate. The CPA firm will perform the Examination Engagement in accordance with the standards established by the American Institute of Certified Public Accountants and contained in the Generally Accepted Government Audit Standards (GAGAS). 2. SSA will email a notice to the Requesting Party identifying the name of the retained CPA firm and its designated contact. 3. SSA will provide to the CPA a statistically-valid random sample of the Requesting Party’s verifications identified by name, SSN and date of birth along with the verification results provided to the Requesting Party. SSA will use the U.S. Government Accountability Office (GAO) President’s Council on Integrity and Efficiency’s (PCIE) Financial Audit Manual (FAM), Section 460, Compliance Tests in determining the sample size.

Initiating the Compliance Review. ‌ 1. An SSA-appointed CPA firm will perform an annual audit that all authorized transactions are complete and accurate. The CPA firm will perform the Examination Engagement in accordance with the standards established by the American Institute of Certified Public Accountants and contained in the Generally Accepted Government Audit Standards (GAGAS). 2. SSA will email a notice to the Requesting Party identifying the name of the retained CPA firm and its designated contact. 3. SSA will provide to the CPA a statistically-valid random sample of the Requesting Party’s verifications identified by name, SSN and date of birth along with the verification results provided to the Requesting Party. SSA will use the U.S. Government Accountability Office (GAO) President’s Council on Integrity and Efficiency’s (PCIE) Financial Audit Manual (FAM), Section 460, Compliance Tests in determining the sample size.