§1734.8. Audit requirements.
7 C.F.R. § 1734.8
A recipient of financial assistance shall provide RUS with an audit for each year, beginning with the year in which a portion of the financial assistance is expended, in accordance with the following:
If the awardee is a for-profit entity, an electric or telecommunications cooperative, or any other entity not covered by the definition of “non-Federal entity” in 2 CFR 200.1, the awardee shall provide an independent audit report in accordance with 7 CFR part 1773 and the grant agreement.
If the awardee is a non-Federal entity, as defined in 2 CFR 200.1, the awardee shall provide an audit in accordance with subpart F of 2 CFR part 200.
Grant awardees shall comply with 2 CFR part 200, and rules on the disposition of grant assets in part 200 shall be applied regardless of the type of legal organization of the grantee.
Notes, amendments, and revision history
Amendments
[82 FR 55925, Nov. 27, 2017, as amended at 88 FR 7561, Feb. 6, 2023]
Authority
Authority: 7 U.S.C. 901 et seq. and 950aaa et seq.
Source
Source: 82 FR 55925, Nov. 27, 2017, unless otherwise noted.
Amendments
[82 FR 55925, Nov. 27, 2017, as amended at 88 FR 7561, Feb. 6, 2023]