§ 37.640. Must I include a provision for audits of for-profit participants?
126 words·~1 min read·
/us/cfr/t32/s§ 37.640·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If your TIA is an expenditure-based award, you must include in it an audit provision that addresses, for each for-profit participant:
(a)Whether the for-profit participant must have periodic audits, in addition to any award-specific audits, as described in § 37.645. Note that the DCAA or the Office of the Inspector General, DoD (OIG, DoD), can provide advice on the types and scope of audits that may be needed in various circumstances.
(b)Whether the DCAA or an independent public accountant
(IPA)will perform required audits, as discussed in § 37.650.
(c)How frequently any periodic audits are to be performed, addressed in § 37.655.
(d)Other matters described in § 37.660, such as audit coverage, allowability of audit costs, auditing standards, and remedies for noncompliance.