SECTION .0500 ‑ AUDIT STANDARDS

10A NCAC 97C .0501      AUDIT PROCEDURE

(a)  The audit of the CSBG program shall be performed in conjunction with the regular annual independent audit of the grant recipient and shall contain an examination of all financial aspects of the CSBG program as well as a review of the procedures and documentation supporting the recipient's compliance with applicable statutes and regulations.

(b)  CSBG program funds may only be used to pay for the CSBG portion of the audit costs.

(c)  The annual audit shall be completed and submitted to the Office within six months after the end of the grant recipient's fiscal year.

(d)  The Office may require separate closeout audits to be prepared by the recipient in accordance with Rule .1302 of this Subchapter.

History Note:        Authority G.S. 143B‑10; 143B‑276; 143B‑277; 143‑323(d);

Eff. December 1, 1983;

Amended Eff. June 1, 1985; October 1, 1984;

Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. April 25, 2015.