Financial Statement Audit Sample Clauses

Financial Statement Audit. If, during its fiscal year, Grantee expends less than $750,000 in Federal Awards, Grantee is subject to the following audit requirements: (i) If, during its fiscal year, Grantee expends $500,000 or more in Federal and state Awards, singularly or in any combination, from all sources, Grantee must have a financial statement audit conducted in accordance with the Generally Accepted Government Auditing Standards (GAGAS). Grantee may be subject to additional requirements in PART TWO, PART THREE or Exhibit G based on the Grantee’s risk profile. (ii) If, during its fiscal year, Grantee expends less than $500,000 in Federal and state Awards, singularly or in any combination, from all sources, but expends $300,000 or more in Federal and state Awards, singularly or in any combination, from all sources, Grantee must have a financial statement audit conducted in accordance with the Generally Accepted Auditing Standards (GAAS). (iii) If Grantee is a Local Education Agency (as defined in 34 CFR 77.1), Grantee shall have a financial statement audit conducted in accordance with GAGAS, as required by 23 Ill. Admin. Code 100.110, regardless of the dollar amount of expenditures of Federal and state Awards. (iv) If Grantee does not meet the requirements in subsections 15.3(b) and 15.3(c)(i- iii) but is required to have a financial statement audit conducted based on other regulatory requirements, Grantee must submit those audits for review. (v) Grantee must submit its financial statement audit report packet, as set forth in 44 Ill. Admin. Code 7000.90(h)(2) and the current GATA audit manual, to the Grantee Portal within the earlier of (i) 30 calendar days after receipt of the auditor’s report(s) or (ii) 6 months after the end of the Grantee’s audit period.

Financial Statement Audit. If, during its fiscal year, Grantee expends less than $750,000 in Federal Awards and state Awards, singularly or in any combination, from all sources, Grantee must follow all of the audit requirements in Paragraphs 15.3(c)(i)-(v), above.

Financial Statement Audit. If Grantee expends less than $750,000 in Federal Awards during its fiscal year and is not subject to the audit requirements in 15.2, but receives between $300,000 and $499,999 in Federal and State Awards combined, Grantee must have a financial statement audit conducted in accordance with Generally Accepted Auditing Standards(GAAS); if Grantee expends between $500,000 and $749,999 in Federal and State awards combined, Grantee must have a financial statement audit conducted in accordance with Generally Accepted Government Auditing Standards (GAGAS). Grantee shall submit these financial statement audit reports to Grantor either within (i) 30 calendar days after receipt of the auditor’s report(s) or (ii) 180 calendar days after the end of the audit period, whichever is earlier.

Financial Statement Audit. If, during its fiscal year, Grantee expends less than the threshold amount as set out in 2 CFR 200.501(a) in federal pass-through funds from State-issued Awards, Grantee must follow all of the audit requirements in Paragraphs 12.3(c)(i)-(v), above.

Financial Statement Audit. Annually, no later than February 15, the parties agree that for the purpose of this Agreement, the CNA must submit its audited financial statements along with the independent auditor’s opinion thereon. In addition to the financial statement audit, the CNA must also submit any other formal audit related communications. For example, communications that may include recommendations to improve internal controls over financial reporting for the federal program that includes, at a minimum: (Assets, Liabilities, Expenses, Cash Flows from operating activities, investments, reserves, employee-related benefits, Leases, Hotel contracts, and legal matters) a summary of prior audit findings and corrective action plans. The CNA shall implement all recommendations related to material weaknesses or significant deficiencies in internal control over financial reporting. The audit shall be performed by an independent Certified Public Accounting Firm.

Financial Statement Audit. If Provider expends between $300,000 and $749,999 in Federal funds combined, Provider must have a financial statement audit conducted in accordance with Generally Accepted Government Auditing Standards (GAGAS).

Financial Statement Audit. Within one hundred eighty (180) calendar days from the close of its fiscal year, Provider’s independent certified public accounting firm (CPA) must electronically submit to The Children’s Trust all the following documents, which together comprise an Annual Financial Statement Audit conducted in accordance with GAAP and standards contained in Government Auditing Standards issued by the Comptroller General of the United States (The Yellow Book). The required items are: a. An annual financial statement audit performed by a CPA firm that is licensed and registered to conduct business with the Florida Department of Business and Professional Regulation. b. An Annual Financial Statement Audit conducted in accordance with auditing standards generally accepted in the United States of America, and the standards applicable to financial audits contained in Government Auditing Standards. c. Written communication encompassing the requirements of AU-C section 265, “Communicating Internal Control Related Matters Identified in an Audit.” d. Written communication encompassing the requirements of AU-C section 260, “The Auditor’s Communication With Those Charged With Governance.” e. A Single Audit conducted in accordance with OMB “Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards” or the Florida Single Audit Act, section 215.97, Florida Statutes, if applicable. f. A management letter; if no management letter is prepared by Provider’s CPA firm, then the CPA firm must expressly confirm, in writing, that no management letter was issued. If Provider’s Annual Financial Statement Audit is prepared by the Florida Auditor General, then the due date for submitting the annual financial statement audit, as defined, is two hundred seventy (270) calendar days after the close of Provider’s fiscal year. If Provider is required to have a Single Audit, it agrees to have its CPA firm submit the schedule of expenditures pertaining to awards, summary schedule of prior audit findings, applicable auditor’s reports and the corrective action plan, if applicable.

Financial Statement Audit. If, during its fiscal year, Grantee expends less than $750,000 in Federal Awards, Grantee is subject to the following audit requirements: (i) If, during its fiscal year, Grantee expends $300,000 or more in Federal and State Awards, singularly or in any combination, Grantee must have a financial statement audit conducted in accordance with the Generally Accepted Government Auditing Standards (GAGAS). Grantee may be subject to additional requirements in PART TWO, PART THREE or Exhibit G based on the Grantee’s risk profile. (ii) If, during its fiscal year, Grantee expends less than $300,000 in Federal and State Awards, but the total revenue it receives is in excess of $300,000, Grantee must have a financial statement audit conducted in accordance with the Generally Accepted Auditing Standards (GAAS). (iii) Grantee must submit its financial statement audit report(s) and any management letters issued by the auditor within the earlier of (i) 30 calendar days after receipt of the auditor’s report(s) or (ii) 180 days after the end of the Grantee’s audit period.

Financial Statement Audit. The Company will obtain an annual audit of its financial statements with respect to each Fiscal Year and, to the extent that quarterly review procedures of the Company’s financial statements are required to be performed in order for a Member to meet its reporting obligations as a public company, the Company will cause such review procedures to be performed, in each case from or by a nationally recognized independent registered public accounting firm. The Company will furnish the Members with a copy of such audited or reviewed financial statements as provided in Section 11.5. Any exceptions to the audited statements rendered must be made by a Member within one year from its receipt and, if no exception is made within that time, the statements will be considered to be correct.