10a NCAC 97C .0506      USE OF SMALL AND MINORITY‑OWNED AUDIT FIRMS

Small audit firms and audit firms owned and controlled by socially and economically disadvantaged individuals shall have the maximum practicable opportunity to participate in the performance of contracts awarded with CSBG funds.  Recipients shall take the following affirmative action to further this goal.

(1)           Assure that small audit firms and audit firms owned and controlled by socially and economically disadvantaged individuals as defined in P.L. 95‑507 are used to the fullest extent practicable;

(2)           Make information on forthcoming opportunities available, and arrange timing for the audit so as to encourage and facilitate participation by small or disadvantaged firms;

(3)           Consider in the contract process whether firms competing for larger audits intend to subcontract with small or disadvantaged firms;

(4)           Encourage contracting with small or disadvantaged audit firms which have traditionally audited government programs, and in such cases where this is not possible, assure that these firms are given consideration for audit subcontracting opportunities;

(5)           Encourage contracting with consortiums of small or disadvantaged audit firms when a contract is too large for an individual small or disadvantaged audit firm; and

(6)           Use the services and assistance, as appropriate, of the Small Business Administration, and the Minority Business Development Agency of the U.S. Department of Commerce in the solicitation and utilization of small or disadvantaged audit firms.

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

Eff. December 1, 1983;

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