Questioned Costs definition

Questioned Costs means a cost that is questioned by the auditor because of an audit finding which resulted from a violation or possible violation of a statute, regulation, or the terms and conditions of a Federal award, including for funds used to match Federal funds; where the costs, at the time of the audit, are not supported by adequate documentation; or where the costs incurred appear unreasonable and do not reflect the actions a prudent person would take in the circumstances. (2 CFR 200.84 and 45 CFR 75.2).

Questioned Costs means a cost that is questioned by the auditor because of an audit finding which resulted from a violation or possible violation of a statute, regulation, or the terms and conditions of a Federal award, including for funds used to match Federal funds; where the costs, at the time of the audit, are not supported by adequate documentation; or where the costs incurred appear unreasonable and do not reflect the actions a prudent person would take in the circumstances. (2 CFR 200.1 and 45 CFR 75.2).

Questioned Costs means those costs which have been

Examples of Questioned Costs in a sentence

• The District’s major federal programs are identified in the accompanying Schedule of Findings and Questioned Costs.

• The City’s major federal programs are identified in the accompanying Schedule of Findings and Questioned Costs.

• Provide the following information for the last three (3) fiscal years: • Audited financial statements with applicable notes;• Independent Auditor’s Report on Compliance and Internal Control over Financial Report based on an Audit of the Financial Statements in Accordance with Government Account Standards;• Independent Auditor’s Statement of Findings and Questioned Costs.

• Questioned Costs: The amount of questioned costs cannot be determined.

• The Core-CT number should be used to identify programs listed on the Schedule of Expenditures of State Financial Assistance and on the Schedule of Findings and Questioned Costs.

• If not, explain in the Notes to the Financial Statements or in the Schedule of Findings and Questioned Costs.

• Only one of the two line items is identified on the Schedule of Findings and Questioned Costs as a major program.

• Adverse Findings are defined as Lack of Adequate Records, Administrative Findings, Questioned Costs, and Costs Recommended for Disallowance.

• If CSD determines that Contractor’s non- compliance has resulted in questioned costs, CSD shall provide Contractor with a Statement of Questioned Costs along with the Notice of Enforcement Action, or at such later time in the enforcement process as questioned costs are identified.

• If CSD determines that more information is required before a Statement of Questioned Costs can be issued or before a final determination of cost disallowance can be made, CSD may conduct an investigative audit of Contractor’s records, files and books of account, or retain an audit firm for such purpose.

More Definitions of Questioned Costs

Questioned Costs means those costs which have been determined in accordance with generally accepted accounting principles but which may constitute disallowed costs or departures from the provisions of this chapter or rules and regulations adopted by the department.

Questioned Costs means a cost that is questioned by the auditor because of an

Questioned Costs means a cost that is questioned by the auditor because of an audit finding which resulted from a violation or possible violation of a statute, regulation, or the terms and conditions of a

Questioned Costs means a cost that is questioned by the auditor because of an audit finding which resulted from a violation or possible violation of a statute, regulation, or the terms and conditions of a Federal award, including for funds used to match Federal funds; where the costs, at the time of the audit,

Questioned Costs means costs that are questioned because of monitoring or audit findings including, but not limited to, findings: