Statutes, codes, and regulations
Code of Federal Regulations
Title 2 - FEDERAL FINANCIAL ASSISTANCESubtitle A - OFFICE OF MANAGEMENT AND BUDGET GUIDANCE FOR FEDERAL FINANCIAL ASSISTANCEChapter II - OFFICE OF MANAGEMENT AND BUDGET GUIDANCEPart 200 - UNIFORM ADMINISTRATIVE REQUIREMENTS, COST PRINCIPLES, AND AUDIT REQUIREMENTS FOR FEDERAL AWARDSSubpart F - AUDIT REQUIREMENTS
[Effective 10/1/2024] AUDITEES
Section 200.508 - [Effective 10/1/2024] Auditee responsibilities

2 C.F.R. § 200.508

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Current through September 30, 2024
Section 200.508 - [Effective 10/1/2024] Auditee responsibilities

The auditee must:

(a) Arrange for the audit required by this part in accordance with § 200.509 , and ensure it is properly performed and submitted in accordance with § 200.512 .
(b) Prepare 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. 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 access to personnel, accounts, books, records, supporting documentation, and any other information needed for the auditor to perform the audit required by this part.

2 C.F.R. §200.508

85 FR 49572, 11/12/2020; 89 FR 30136, 10/1/2024