§ 200.425. Audit services.
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/us/cfr/t2/s§ 200.425·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)A reasonably proportionate share of the costs of audits required by and performed in accordance with the Single Audit Act Amendments of 1996 (31 U.S.C. 7501-7507), and the requirements of this part are allowable. However, the following audit costs are unallowable:
(1)Any costs when audits required by the Single Audit Act and subpart F of this part have not been conducted, or have been conducted but not in accordance with the requirements; and
(2)Except as provided for in paragraph
(c)of this section, any costs of auditing a non-Federal entity that is exempted from having an audit conducted under the Single Audit Act and subpart F of this part because its expenditures under Federal awards are less than \$1,000,000 during its fiscal year."
(b)The costs of a financial statement audit of a recipient or subrecipient that does not currently have a Federal award may be included in the indirect cost pool for a cost allocation plan or indirect cost proposal.
(c)Pass-through entities may charge Federal awards for the cost of agreed-upon procedures engagements to monitor subrecipients (in accordance with §§ 200.331-333) exempt from having an audit conducted under the Single Audit Act and the requirements of this part. This cost is allowable only if the agreed-upon procedures engagements are:
(1)Conducted in accordance with GAGAS or applicable international attestation standards, as appropriate;
(2)Paid for and arranged by the pass-through entity; and
(3)Limited in scope to one or more of the following types of compliance requirements: activities allowed or unallowed; allowable costs/cost principles; eligibility; and reporting.
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- 31 USC 7501-7507
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§ 200.425
Audit services.
Fed. Reg.×7
C.F.R.×2
Cite31 USC 7501-7507
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