Common use of Single Audits Clause in Contracts

Single Audits. All audit reports for single audits done in accordance with Uniform Guidance must contain the following: A. a schedule of expenditures of federal awards, prepared by the Entity, which must contain all elements required by Uniform Guidance. B. a report on the schedule of expenditures of federal awards. This report may be combined with other reports as provided by Uniform Guidance and professional standards. This report must comply with applicable professional standards in effect for the fiscal year or years being audited. C. a report on compliance for each major program and a report on internal control over compliance in accordance with Uniform Guidance. These reports must refer to the separate schedule of findings and questioned costs described in paragraph 12.D. of the contract and must comply with applicable professional standards in effect for the fiscal year or years being audited. D. a schedule of findings and questioned costs which must include the information required by Uniform Guidance. E. an Entity-prepared document, separate from the Contractor’s findings, that describes the Entity’s corrective action plan in accordance with Uniform Guidance for each current-year audit finding, if that plan is available at the time the Contractor submits the audit report to the State. This document should be submitted on Entity letterhead and should include a corrective action plan for each finding, regardless whether the finding is identified in accordance with Uniform Guidance or Government Auditing Standards.