Questioned Costs means a cost that is questioned by the auditor because of an audit finding which resulted from a violation or possible violation of a statute, regulation, or the terms and conditions of a Federal award, including for funds used to match Federal funds; where the costs, at the time of the audit, are not supported by adequate documentation; or where the costs incurred appear unreasonable and do not reflect the actions a prudent person would take in the circumstances. (2 CFR 200.84 and 45 CFR 75.2).
Questioned Costs means a cost that is questioned by the auditor because of an audit finding which resulted from a violation or possible violation of a statute, regulation, or the terms and conditions of a Federal award, including for funds used to match Federal funds; where the costs, at the time of the audit, are not supported by adequate documentation; or where the costs incurred appear unreasonable and do not reflect the actions a prudent person would take in the circumstances. (2 CFR 200.1 and 45 CFR 75.2).
Questioned Costs means those costs which have been
Examples of Questioned Costs in a sentence
The Single Audit reporting package includes a completed: Form SF-SAC, Financial Statement(s), Schedule of expenditures of Federal Awards, Summary Schedule of Prior Audit Findings, Opinion on Financial Statements, Report on Internal Control-GAS, Report on Compliance-GAS, Report on Internal Control-A-133, Report on Compliance-A-133, Schedule of Findings and Questioned Costs, Corrective Action Plan (if findings) and Opinion or Disclaimer of Opinion on Schedule of Federal Awards.
More Definitions of Questioned Costs
Questioned Costs means those costs which have been determined in accordance with generally accepted accounting principles but which may constitute disallowed costs or departures from the provisions of this chapter or rules and regulations adopted by the department.
Questioned Costs means costs that are questioned because of monitoring or audit findings including, but not limited to, findings:
Questioned Costs means a cost that is questioned by the auditor because of an audit finding which resulted from a violation or possible violation of a statute, regulation, or the terms and conditions of a
Questioned Costs means a cost that is questioned by the auditor because of an audit finding which resulted from a violation or possible violation of a statute, regulation, or the terms and conditions of a Federal award, including for funds used to match Federal funds; where the costs, at the time of the audit,