COM 0314.079 1996-1998 - Laserfiche WebLink

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eE%ee%9e is:2a ryas Audit lieporting Re., .,cements. Independent auditors should follow the requitnntents prescribed in OM8 Circular A•133. If the auditor becomes aware of illegal acts or other irregularities, prompt notice shall be k`, given to recipient management officials above the level of involvement. The rocipient, in `a•/' rum, shall promptly notify the cognizant Federal agency ofthe illegal acts or irregularities and of proposed and actual actions, if any. AlI awarding agency personnel have the responsibility to inform the Office of Professional Responsibility and the office of Inspector General, DOJ, and State and local !aw enforcement agencies or prosecuting authorities, as appropriate, of any lutown violations ofthe taw within their respective area of jurisdiction. Audit casts for audits not acquired or pt:rfonned in aceordance with OM$ Circular A 133 are unallowable. If the grantee did not expend $300,000 or more in Federal funds in Sts frees) year, but contracted with a certified public accountant to porform an audit; these costs may not be charged to the grant. Failure to Comply. Failure to have audits performed as requited may result in dte withholding of new awards and/or withholding of funds or change in the method of payment on active grants. Audit Threshold: l . Non-Faders! entities that expend $300,000 or more in Federal funds (from all sources } including pass-through su6awards) in the organization &scal year (12 month ttrrnatounti reporting period) shall have a single organisation-wide conducted in atxotdance with the provisions of OM13 Circular A-133. 2. Non-Federal entities that expend less than $300,000 a year in Fedora) awatde are exempt from Federal audit requirements for that year. Records must be available for review or audit by appropriate officials including the Federal agency, pass-through entity, and General Accounting pffice (GAO), Due Dates for Audil Reports. Audits are due no Later than thirteen (13) months after t&e close of each fiscal year during the term of the award, (For fiscal years beginning on/after July 1, 1998, audit reports arc due nine (9) after the close of the fiscal year,) ~ Audit Compliance. Techniques to use to determine recipient compliance With Federal requirements when an organization-wide audit is not conducted include: 1. Obmining audits frum recipient that were made in accordance with the "Government Auditing Standards." 2. Relying on previous audits performed on recipient's operations. 3. Desk reviews by program officials of project documentation. 4. Project audits by auditors ar auditors obtained by recipients, lanusry 1998: Patt I[,; Clwpkr 19 1t0