What criteria are generally used for a federal contract audit?
Federal contract audits are generally based on pre-defined audit criteria. The terms and conditions section of the award document may include specific requirements, in addition to the key policies and regulations that generally apply to federal awards: A-21 provides principles for determining the costs applicable to research and development, training, and other sponsored work performed by colleges and universities under grants, contracts, and other agreements with the federal government. A-110 establishes uniform administrative requirements for federal grants and agreements awarded to institutions of higher education, hospitals, and other non-profit organizations. The requirements included in the circular replace the varying and conflicting requirements that have previously been imposed by Federal awarding agencies as conditions of sponsored agreements. A-133 establishes audit requirements and defines Federal responsibilities for implementing and monitoring such requirements for instit
Federal contract audits are generally based on pre-defined audit criteria. The terms and conditions section of the award document may include specific requirements, in addition to the key policies and regulations that generally apply to federal awards: A-21 provides principles for determining the costs applicable to research and development, training, and other sponsored work performed by colleges and universities under grants, contracts, and other agreements with the federal government. A-110 establishes uniform administrative requirements for federal grants and agreements awarded to institutions of higher education, hospitals, and other non-profit organizations. The requirements included in the circular replace the varying and conflicting requirements that have previously been imposed by Federal awarding agencies as conditions of sponsored agreements.
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- What criteria are generally used for a federal contract audit?
