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Code of Federal Regulations (Last Updated: October 10, 2024) |
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Title 2 - Grants and Agreements |
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Subtitle A - Office of Management and Budget Guidance for Grants and Agreements |
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Chapter II - Office of Management and Budget Guidance |
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Part 200 - Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards |
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Subpart F - Audit Requirements |
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Auditees |
§ 200.508 - Auditee responsibilities.
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§ 200.508 Auditee responsibilities.
The auditee must:
(a) Procure or otherwise arrange Arrange for the audit required by this part in accordance with § 200.509, and ensure it is properly performed and submitted when due in accordance with § 200.512.
(b) Prepare appropriate financial statements, including the schedule of expenditures of Federal awards in accordance with § 200.510.
(c) Promptly follow up and take corrective action on audit findings, including preparation of . This includes preparing a summary schedule of prior audit findings and a corrective action plan in accordance with § 200.511(b) and (c), respectively.
(d) Provide the auditor with access to personnel, accounts, books, records, supporting documentation, and any other information as needed for the auditor to perform the audit required by this part.
[78 FR 78608, Dec. 26, 2013, as amended at 85 FR 49572, Aug. 13, 2020]