2 CFR 2701.503
§ 2701.503 Relation to other audit requirements.
United States · 2 CFR — Federal Financial Assistance · Status: effective
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- Citation
- 2 CFR 2701.503, § 2701.503 Relation to other audit requirements, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/2322
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Full text
Non-Federal entities that are not subject to the requirements of the Single Audit Act and that are performing projects under SBA awards will be required to submit copies of their audited financial statements for their most recently completed fiscal year. Costs associated with the auditing of a non-Federal entity's financial statements may be included in its negotiations for an indirect cost rate agreement in accordance with 2 CFR 200.425.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.