The agency shall arrange for an independent audit no less frequently than once every two years, pursuant to the requirements of Office of Management and Budget Circular No. A-102, Attachment P. The audits will be performed in accordance with the ``Standards for Audit of Governmental Organizations, Programs, Activities, and Functions'' and the ``Guidelines for Financial and Compliance Audits of Federally Assisted Programs'' published by the Comptroller General of the United States and guidance provided by the cognizant Federal audit agency. [47 FR 38492, Aug. 31, 1982]