( iv ) A timetable regarding results and you may requested charges for the brand new Government system detailed with a list of the latest auditor’s overall performance according to new Federal program within the a format in line with § (d)(1) and you will results and you will requested will cost you similar to the criteria regarding § (d)(3).
( step one ) The brand new review must be accomplished plus the revealing required by paragraph (c)(2) otherwise (c)(3) of the point submitted in before regarding 31 calendar weeks after bill of the auditor’s report(s), or nine weeks adopting the end of the review several months, until an alternative several months try given in an application-specific audit book. Auditees and you will auditors must ensure one its particular parts of this new reporting bundle do not include safe personally recognizable advice.
( dos ) Whenever a course-particular audit book is present, the fresh auditee must electronically yield to the new FAC the data collection mode prepared in accordance with § (b), just like the appropriate to a course-specific audit, together with reporting required by the application-certain review publication.
( step 3 ) When a course-particular review book isn’t offered, the revealing bundle to own a program-certain audit need certainly to incorporate the new financial statement(s) of Government program, a summary schedule of earlier audit conclusions, and you can a restorative action plan as the discussed within the paragraph (b)(2) of this part, additionally the auditor’s declaration(s) explained when you look at the section (b)(4) of the section. The content collection means wishing relative to § (b), while the appropriate so you’re able to a course-certain review, and one copy with the revealing bundle should be electronically submitted toward FAC.
( nine ) Other referenced provisions of the area unless of course from the specifications of area, a program-specific review book, otherwise system laws and regulations and laws.
§ Auditee obligations.
( an excellent ) Procure or else policy for this new audit necessary for that it area according to § , and ensure it’s properly did and you will submitted when due when you look at the conformity with § .
( c ) Timely follow up and take restorative action into the audit findings, as well as preparing away from a synopsis agenda away from prior audit conclusions and you will a corrective plan in line with § (b) and you will (c), respectively.
( d ) Deliver the auditor that have entry to team, profile, instructions, details, supporting paperwork, or any other information as required to your auditor to execute this new review required by so it region.
§ Auditor solutions.
( a great ) Auditor procurement. From inside the procuring audit functions, new auditee need certainly to proceed with the procurement standards recommended because of the Procurement Conditions for the §§ as a consequence of out of subpart D associated with the area or even the Far (48 CFR part 42), given that applicable. In the asking for proposals having audit functions, the expectations and you may range of one’s review should be clarified plus the low-Federal entity must consult a duplicate of review business’s peer review statement that the auditor must offer around GAGAS. What to meet the requirements when you look at the comparing for every single offer to possess review attributes include the responsiveness with the ask for offer, associated experience, availability of group having elite certificates and you can technical abilities, the results from peer and additional quality assurance studies, and you will rates. As much as possible, new auditee need make self-confident services to make use of small enterprises, minority-possessed providers, and ladies businesses, when you look at the procuring audit features as mentioned in the § , or the Far (forty-eight CFR part 42), given that applicable.
( b ) Maximum toward auditor making preparations secondary pricing proposals. An enthusiastic auditor exactly who makes this new indirect rates proposal otherwise costs allowance bundle may not be also chose to perform the fresh new audit needed by this region in the event that indirect can cost you recovered by the auditee when you look at the past seasons exceeded $one million. That it maximum relates to the beds base 12 months included in the brand new thinking of your own indirect pricing proposition or costs allotment plan and you can any payday loans in Akron Ohio then ages where in actuality the ensuing secondary cost agreement or cost allowance bundle is utilized to recover will cost you.
