Section 230.360  General Audit Requirements

a)         All grantees and contractors who receive financial assistance through the Illinois Department on Aging must obtain and file an audit report as mandated in, and in accordance with, Office of Management and Budget (OMB) Circular A-128, "Audit of State and Local Governments" or OMB Circular A-133, "Audits of Institutions of Higher Education, and Other Nonprofit Institutions"; and, as applicable, in accordance with "Government Auditing Standards" (45 CFR 92, October 1988); "Administration of Grants" (45 CFR 74, March 1991); "Uniform Administrative Requirements for Grants and Cooperative Agreements to State and Local Governments" (7 CFR 3016, October 1988); "Uniform Administrative Requirements for Grants and Cooperative Agreements to State and Local Governments" (29 CFR 97, October 1988); "Uniform Federal Assistance Regulation" (7 CFR 3015, August 1993); "Audits of Institutions of Higher Education and Other Nonprofit Institutions" (7 CFR 3051, August 1993); "Audit Requirements for Grants, Contracts and Other Agreements" (29 CFR 96, October 1991), no later editions or amendments included.

b)         Such audits must be conducted in accordance with generally accepted auditing standards, including the standards of:

1)         The U.S. General Accounting Office's publication, "Government Auditing Standards" (45 CFR 92, October 1988) and those applicable citations in subsection (a) of this Section; and

2)         any specific audit instructions issued by the Department.

c)         Audits must be conducted annually.

d)         Each grantee and contractor must establish procedures for reviewing audit reports and responding to recommendations.

(Source:  Amended at 18 Ill. Reg. 14072, effective September 1, 1994)