Common use of Requirement to Have an Audit Clause in Contracts

Requirement to Have an Audit. Unless waived by Xxxxxxx, the sub-recipient/contractor (auditee) shall submit an annual audit to Shawano if the total amount of annual funding provided by Shawano (from any and all of its Divisions taken collectively) for all contracts is $100,000 or more. In determining the amount of annual funding provided by Shawano, the sub-recipient/contractor shall consider both: (1) funds provided through direct contracts with Shawano; and (2) funds from Shawano, passed through another agency which has one or more contracts with the sub-recipient/contractor. The audit shall be performed in accordance with generally accepted auditing standards, Wisconsin Statute § 46.036, Government Auditing Standards as issued by the U.S. Government Accountability Office, and other provisions specified in this contract. In addition, the sub- recipient/contractor is responsible for ensuring that the audit complies with other standards and guidelines that may be applicable depending on the type of services provided and the amount of pass-through dollars received. Please reference the following audit documents for complete audit requirements: • 2 Code of Federal Regulations, Part 200 - Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, Subpart F - Audits. The guidance also includes an Annual Compliance Supplement that details specific federal agency rules for accepting federal sub-awards. • The State Single Audit Guidelines (SSAG) expand on the requirements of 2 CFR Part 200 Subpart F by identifying additional conditions that require a state single audit. Section 1.3 lists the required conditions. • The DHS Audit Guide is an appendix to the SSAG and contains additional DHS- specific audit guidance for those entities meet the SSAG requirements. It also provides guidance for those entities that are not required to have a Single Audit but need to comply with DHS sub-recipient/contractor audit requirements. An audit report is due Shawano if a sub-recipient/contractor receives more than $100,000 in pass-through money from Shawano, as determined by Wisconsin Statute § 46.036.

Requirement to Have an Audit. Unless waived by Xxxxxxx, the sub-recipient/contractor (auditee) shall submit an annual audit to Shawano if the total amount of annual funding provided by Shawano (from any and all of its Divisions taken collectively) for all contracts is $100,000 or more. In determining the amount of annual funding provided by Shawano, the sub-recipient/contractor shall consider both: (1) funds provided through direct contracts with Shawano; and (2) funds from Shawano, passed through another agency which has one or more contracts with the sub-recipient/contractor. The audit shall be performed in accordance with generally accepted auditing standards, Wisconsin Statute § 46.036, Government Auditing Standards as issued by the U.S. Government Accountability Office, and other provisions specified in this contract. In addition, the sub- recipient/contractor is responsible for ensuring that the audit complies with other standards and guidelines that may be applicable depending on the type of services provided and the amount of pass-through dollars received. Please reference the following audit documents for complete audit requirements: •  2 Code of Federal Regulations, Part 200 - Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, Subpart F - Audits. The guidance also includes an Annual Compliance Supplement that details specific federal agency rules for accepting federal sub-awards. •  The State Single Audit Guidelines (SSAG) expand on the requirements of 2 CFR Part 200 Subpart F by identifying additional conditions that require a state single audit. Section 1.3 lists the required conditions. •  The DHS Audit Guide is an appendix to the SSAG and contains additional DHS- specific audit guidance for those entities meet the SSAG requirements. It also provides guidance for those entities that are not required to have a Single Audit but need to comply with DHS sub-recipient/contractor audit requirements. An audit report is due Shawano if a sub-recipient/contractor receives more than $100,000 in pass-through money from Shawano, as determined by Wisconsin Statute § 46.036.