What types of federal contract audits are performed?
Claimed cost or closeout audits. These audits are generally requested by the sponsor contracting officer upon submission of a final bill by the contractor or grantee. The objective of a claimed cost audit is to verify the allowability, allocability, and reasonableness of costs charged and billed by the recipient of funds. Pre-award audits. These audits are conducted to verify the estimated costs submitted in pre-award proposals for large sponsored research projects. Sponsor contracting officers can request the OIG perform these audits prior to negotiating an award.
Claimed cost or closeout audits. These audits are generally requested by the sponsor contracting officer upon submission of a final bill by the contractor or grantee. The objective of a claimed cost audit is to verify the allowable, allocable, and reasonable costs charged and billed by the recipient of funds.
