Any foreign nonprofit organization or subrecipient that expends $300,000 or more in USAID awards during its fiscal year has an annual audit conducted of those funds in accordance with the Guidelines for Financial Audits Contracted by Foreign Recipients, published by the Office of Inspector General.
Link to OIG
As stipulated by USAID’s Automated Directives System (ADS) 591.3.2.1, subrecipients submit copies of their audits to the prime recipient for review as part of the prime recipient’s annual audit. If the audit firm conducting the annual audit determines that the subrecipient is not performing audits or that the audits are deficient or defective, the firm will include a recommendation in the prime recipient’s audit report to have the defective issues corrected.
Financial Audit Requirement Chart
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