GroundRules
2 CFR 200.504: Frequency of audits.
Where this section sits in the code
- Title 2—Federal Financial Assistance
- Subtitle A—Office of Management and Budget Guidance for Federal Financial Assistance
- CHAPTER II—OFFICE OF MANAGEMENT AND BUDGET GUIDANCE
- PART 200—UNIFORM ADMINISTRATIVE REQUIREMENTS, COST PRINCIPLES, AND AUDIT REQUIREMENTS FOR FEDERAL AWARDS
- Subpart F—Audit Requirements
Audits required by this part must be performed annually unless biennial audits are permitted under paragraph (a) or (b) of this section. Biennial audits must cover both fiscal years within the biennial period.
(a) A State, local government, or Indian Tribe that is required by constitution or statute, in effect on January 1, 1987, to undergo its audits less frequently than annually, is permitted to undergo biennial (every other year) audits pursuant to this part. This requirement must still be in effect for the biennial period.
(b) Any nonprofit organization that had biennial audits for all biennial periods ending between July 1, 1992, and January 1, 1995, is permitted to undergo biennial audits pursuant to this part.
Collected 2026-08-27T02:23:42Z. Source file · JSON