Federal audit definition

Federal audit means an audit made pursuant to the federal Office of Management and Budget uniform guidance under 2 Code of Federal Regulations, Part 200 or any subsequent revisions.
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Federal audit means an audit made pursuant to the federal Office of Management and Budget Circular A-133 or any subsequent revisions.
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Examples of Federal audit in a sentence

  • Subrecipient shall maintain client data demonstrating client eligibility for services provided for a period of five (5) years after the termination of all activities funded under this Contract, or after the resolution of all Federal audit finding, whichever occurs later.

  • If a Subrecipient expends less than $750,000 in Federal Awards during its fiscal year, the Subrecipient shall be exempt from Federal audit requirements for that year, except as noted in 2 CFR §200.503 (Relation to other audit requirements), but records shall be available for review or audit by appropriate officials of the Federal agency, the State, and the Government Accountability Office.

  • If a Subrecipient expends less than $750,000 in Federal Awards during its fiscal year, the Subrecipient shall be exempt from Federal audit requirements for that year, except as noted in 2 CFR 200.503 (Relation to other audit requirements), but records shall be available for review or audit by appropriate officials of the Federal agency, the State, and the Government Accountability Office.

  • The Subrecipient shall retain all records pertinent to expenditures incurred under this Agreement for a period of five (5) years after the termination of all activities funded under this Agreement, or after the resolution of all Federal audit findings, whichever occurs later.

  • The Provider shall be liable for any State or Federal audit exceptions, if applicable, that arise out of any action, inaction, or negligence by the Provider.

  • If Subrecipient expends less than $750,000 in Federal Awards during its fiscal year, Subrecipient shall be exempt from Federal audit requirements for that year, except as noted in 2 CFR §200.503 (Relation to other audit requirements), but records shall be available for review or audit by appropriate officials of the Federal agency, the State, and the Government Accountability Office.

  • Non-Federal entities that expend less than $750,000 for a fiscal year in Federal awards are exempt from Federal audit requirements for that year, but records must be available for review or audit by appropriate officials of the Federal agency, pass-through entity, and General Accounting Office (GAO).

  • This Agreement survives and remains in effect after termination for the herein referenced State and Federal audit requirements and the referenced required records retention periods.

  • If Subrecipient expends less than $750,000 in its fiscal year in Federal funds, Subrecipient is exempt from Federal audit requirements for that year.

  • Awardees that are States, Local Governments or Non-Profit Organizations, shall arrange for the conduct of audits as required by OMB Circular A-133 “Audits of States, Local Governments, and Non-Profit Organizations” (including colleges and universities.) They shall provide copies of the reports of these audits to the cognizant Federal audit agency.

Related to Federal audit

  • Initial Audit is Bank’s inspection of Borrower’s Accounts, the Collateral, and Borrower’s Books, with results satisfactory to Bank in its sole and absolute discretion.

  • Neutral Auditor means Ernst & Young or, if Ernst & Young is unable to serve, an impartial nationally recognized firm of independent certified public accountants other than Seller’s accountants or Purchaser’s accountants, mutually agreed to by Purchaser and Seller.

  • Public accountant means a person who is registered or deemed to be registered under the Accountants Act (Cap. 2) as a public accountant;

  • Controller of Examinations means the Controller of Examinations of the University;

  • National examination means the examinations developed and administered by the Federation of State Boards of Physical Therapy and approved by the board for licensure as a physical therapist or physical therapist assistant.