Code of Federal Regulations (alpha)

CFR /  Title 32  /  Part 37  /  Sec. 37.640 Must I include a provision for audits of for-profit

If your TIA is an expenditure-based award, you must include in it an audit provision that addresses, for each for-profit participant:

(a) Whether the for-profit participant must have periodic audits, in addition to any award-specific audits, as described in Sec. 37.645. Note that the DCAA or the Office of the Inspector General, DoD (OIG, DoD), can provide advice on the types and scope of audits that may be needed in various circumstances.

(b) Whether the DCAA or an independent public accountant (IPA) will perform required audits, as discussed in Sec. 37.650.

(c) How frequently any periodic audits are to be performed, addressed in Sec. 37.655.

(d) Other matters described in Sec. 37.660, such as audit coverage, allowability of audit costs, auditing standards, and remedies for noncompliance.