DCarsonCPA GRC Lines on Governance, Risk and Compliance

DCarsonCPA GRC Lines on Governance, Risk and Compliance in select subset of the broader aggregate lines on the Economy and Policy from here which have long carried the embedded lines on Corporate Governance, Boards, Directors, C-Level Executives, Internal and External Audit, Shareholders, Stakeholders, Policy, Accounting and Internal Controls including Risk Management AND IT Audit lines for complete context in the Economy and Financials (including IT Data, Communications and Finance / Compliance Technology Controls on Our Risk + Cyber / Cyber Security lines). The value from Our lines works with Entity to Economy and Economy to Entity (E2E^2) for the value in context in the Economy and Financials to help on Project Services and Applied Research for Client Services and broad line support to Policy for Entities, Governance, Government, Shareholders and Stakeholders in the Aggregate.

With the one goal to use as many of our skills as we may to help on Economic Growth, Prudent Risk Management and Full Recovery in the Economy and Financials. Where Entities succeed in compliance and meet a managed line of cost-benefit optimized regulations and compliance that optimally balance the needs on Growth AND the needs on Prudent Risk Management as matched to the constraints of resources in context we all find greater opportunities for growth and improvements. Governance, Risk Management and Compliance help the broad lines of Internal and External Stakeholders and we can help on the lines of GRC that benefit Entities, Shareholders and the broader lines of stakeholders through strong compliance and awareness of Policy needs in the Economy and Financials.

Without further ado please find your way to our newly consolidated and reinforced GRC Lines at

DCarsonCPA PRTC Lines on GRC - Governance, Risk and Compliance (DCarsonCPA GRC lines for shorthand)

Or Pursue to Fast Track to support lines at www.dcarsoncpa.com or e-mail info@dcarsoncpa.com

FARS / CASA / CASB - Federal Contract Accounting, Costing and Auditing

FARS / CASA / CASB - Federal Contract Accounting, Costing and Auditing (*):


Title 48 Part 30 Cost Accounting Standards Administration:

§ 30.101   Cost Accounting Standards.
(a) 41 U.S.C. chapter 15, Cost Accounting Standards, requires certain contractors and subcontractors to comply with Cost Accounting Standards (CAS) and to disclose in writing and follow consistently their cost accounting practices.

(b) Contracts that refer to this part 30 for the purpose of applying the policies, procedures, standards and regulations promulgated by the CASB pursuant to 41 U.S.C. chapter 15, shall be deemed to refer to the CAS, and any other regulations promulgated by the CASB (see 48 CFR chapter 99), all of which are hereby incorporated in this part 30.

(c) The appendix to the FAR loose-leaf edition contains—

(1) Cost Accounting Standards and Cost Accounting Standards Board Rules and Regulations Recodified by the Cost Accounting Standards Board at 48 CFR Chapter 99; and

(2) The following preambles:

(i) Part I—Preambles to the Cost Accounting Standards Published by the Cost Accounting Standards Board.

(ii) Part II—Preambles to the Related Rules and Regulations Published by the Cost Accounting Standards Board.

(iii) Part III—Preambles Published under the FAR System.

(d) The preambles are not regulatory but are intended to explain why the Standards and related Rules and Regulations were written, and to provide rationale for positions taken relative to issues raised in the public comments. The preambles are printed in chronological order to provide an administrative history.

[57 FR 39587, Aug. 31, 1992, as amended at 62 FR 40237, July 25, 1997; 63 FR 9060, Feb. 23, 1998; 79 FR 24210, Apr. 29, 2014]

(*) Citation as of 12/26/15 not for reliance but for general awareness of our interest and skills to help on support lines to Federal Accounting and Audit needs fr Non Profit Educational, Health and Business needs on project teamwork from support lines on related services at www.dcarsoncpa.com we work with strong lines on cross sector skills to help on diverse needs where Macro and Micro Financials, Legal, Technology and Cross Sector Entity and Societal needs meet on Teamwork for workflows in the Economy and Financials at DCarsonCPA.

Select General Requirements for Single Audit Act

Select General Requirements for Single Audit Act (*) :

 USC 31 Ch 75: §7502. Audit requirements; exemptions
(a)(1)(A) Each non-Federal entity that expends a total amount of Federal awards equal to or in excess of $300,000 or such other amount specified by the Director under subsection (a)(3) in any fiscal year of such non-Federal entity shall have either a single audit or a program-specific audit made for such fiscal year in accordance with the requirements of this chapter.
(B) Each such non-Federal entity that expends Federal awards under more than one Federal program shall undergo a single audit in accordance with the requirements of subsections (b) through (i) of this section and guidance issued by the Director under section 7505.
(C) Each such non-Federal entity that expends awards under only one Federal program and is not subject to laws, regulations, or Federal award agreements that require a financial statement audit of the non-Federal entity, may elect to have a program-specific audit conducted in accordance with applicable provisions of this section and guidance issued by the Director under section 7505.
(2)(A) Each non-Federal entity that expends a total amount of Federal awards of less than $300,000 or such other amount specified by the Director under subsection (a)(3) in any fiscal year of such entity, shall be exempt for such fiscal year from compliance with-
(i) the audit requirements of this chapter; and
(ii) any applicable requirements concerning financial audits contained in Federal statutes and regulations governing programs under which such Federal awards are provided to that non-Federal entity.

(B) The provisions of subparagraph (A)(ii) of this paragraph shall not exempt a non-Federal entity from compliance with any provision of a Federal statute or regulation that requires such non-Federal entity to maintain records concerning Federal awards provided to such non-Federal entity or that permits a Federal agency, pass-through entity, or the Comptroller General access to such records.
(3) Every 2 years, the Director shall review the amount for requiring audits prescribed under paragraph (1)(A) and may adjust such dollar amount consistent with the purposes of this chapter, provided the Director does not make such adjustments below $300,000.
(b)(1) Except as provided in paragraphs (2) and (3), audits conducted pursuant to this chapter shall be conducted annually.
(2) A State or local government that is required by constitution or statute, in effect on January 1, 1987, to undergo its audits less frequently than annually, is permitted to undergo its audits pursuant to this chapter biennially. Audits conducted biennially under the provisions of this paragraph shall cover both years within the biennial period.
(3) Any nonprofit organization that had biennial audits for all biennial periods ending between July 1, 1992, and January 1, 1995, is permitted to undergo its audits pursuant to this chapter biennially. Audits conducted biennially under the provisions of this paragraph shall cover both years within the biennial period.
(c) Each audit conducted pursuant to subsection (a) shall be conducted by an independent auditor in accordance with generally accepted government auditing standards, except that, for the purposes of this chapter, performance audits shall not be required except as authorized by the Director.
(d) Each single audit conducted pursuant to subsection (a) for any fiscal year shall-
(1) cover the operations of the entire non-Federal entity; or
(2) at the option of such non-Federal entity such audit shall include a series of audits that cover departments, agencies, and other organizational units which expended or otherwise administered Federal awards during such fiscal year provided that each such audit shall encompass the financial statements and schedule of expenditures of Federal awards for each such department, agency, and organizational unit, which shall be considered to be a non-Federal entity.

(e) The auditor shall-
(1) determine whether the financial statements are presented fairly in all material respects in conformity with generally accepted accounting principles;
(2) determine whether the schedule of expenditures of Federal awards is presented fairly in all material respects in relation to the financial statements taken as a whole;
(3) with respect to internal controls pertaining to the compliance requirements for each major program-
(A) obtain an understanding of such internal controls;
(B) assess control risk; and
(C) perform tests of controls unless the controls are deemed to be ineffective; and

(4) determine whether the non-Federal entity has complied with the provisions of laws, regulations, and contracts or grants pertaining to Federal awards that have a direct and material effect on each major program.

(f)(1) Each Federal agency which provides Federal awards to a recipient shall-
(A) provide such recipient the program names (and any identifying numbers) from which such awards are derived, and the Federal requirements which govern the use of such awards and the requirements of this chapter; and
(B) review the audit of a recipient as necessary to determine whether prompt and appropriate corrective action has been taken with respect to audit findings, as defined by the Director, pertaining to Federal awards provided to the recipient by the Federal agency.

(2) Each pass-through entity shall-
(A) provide such subrecipient the program names (and any identifying numbers) from which such assistance is derived, and the Federal requirements which govern the use of such awards and the requirements of this chapter;
(B) monitor the subrecipient's use of Federal awards through site visits, limited scope audits, or other means;
(C) review the audit of a subrecipient as necessary to determine whether prompt and appropriate corrective action has been taken with respect to audit findings, as defined by the Director, pertaining to Federal awards provided to the subrecipient by the pass-through entity; and
(D) require each of its subrecipients of Federal awards to permit, as a condition of receiving Federal awards, the independent auditor of the pass-through entity to have such access to the subrecipient's records and financial statements as may be necessary for the pass-through entity to comply with this chapter.

(g)(1) The auditor shall report on the results of any audit conducted pursuant to this section, in accordance with guidance issued by the Director.
(2) When reporting on any single audit, the auditor shall include a summary of the auditor's results regarding the non-Federal entity's financial statements, internal controls, and compliance with laws and regulations.
(h) The non-Federal entity shall transmit the reporting package, which shall include the non-Federal entity's financial statements, schedule of expenditures of Federal awards, corrective action plan defined under subsection (i), and auditor's reports developed pursuant to this section, to a Federal clearinghouse designated by the Director, and make it available for public inspection within the earlier of-
(1) 30 days after receipt of the auditor's report; or
(2)(A) for a transition period of at least 2 years after the effective date of the Single Audit Act Amendments of 1996, as established by the Director, 13 months after the end of the period audited; or
(B) for fiscal years beginning after the period specified in subparagraph (A), 9 months after the end of the period audited, or within a longer timeframe authorized by the Federal agency, determined under criteria issued under section 7504, when the 9-month timeframe would place an undue burden on the non-Federal entity.

(i) If an audit conducted pursuant to this section discloses any audit findings, as defined by the Director, including material noncompliance with individual compliance requirements for a major program by, or reportable conditions in the internal controls of, the non-Federal entity with respect to the matters described in subsection (e), the non-Federal entity shall submit to Federal officials designated by the Director, a plan for corrective action to eliminate such audit findings or reportable conditions or a statement describing the reasons that corrective action is not necessary. Such plan shall be consistent with the audit resolution standard promulgated by the Comptroller General (as part of the standards for internal controls in the Federal Government) pursuant to section 3512(c).
(j) The Director may authorize pilot projects to test alternative methods of achieving the purposes of this chapter. Such pilot projects may begin only after consultation with the Chair and Ranking Minority Member of the Committee on Governmental Affairs of the Senate and the Chair and Ranking Minority Member of the Committee on Government Reform and Oversight of the House of Representatives.
(Added Pub. L. 98–502, §2(a), Oct. 19, 1984, 98 Stat. 2329 ; amended Pub. L. 103–272, §4(f)(1)(W), July 5, 1994, 108 Stat. 1363 ; Pub. L. 104–156, §2, July 5, 1996, 110 Stat. 1399 .)
References in Text
The effective date of the Single Audit Act Amendments of 1996, referred to in subsec. (h)(2)(A), is the effective date of Pub. L. 104–156, which is classified generally to this chapter. See section 7507 of this title.

Amendments
1996-Pub. L. 104–156 reenacted section catchline without change and amended text generally, substituting present provisions for similar provisions relating to audit requirements and exemptions from such requirements for State and local governments receiving Federal financial assistance of $100,000 or more in any fiscal year and requiring audits to be conducted annually in most instances, to cover entirety of government operations, for reports to be made on audits in specified time period, and for appropriate corrective action plans to be submitted to Federal officials for any material State or local noncompliance with Federal laws and regulations.

1994-Subsec. (b)(2). Pub. L. 103–272, §4(f)(1)(W), substituted "October 19, 1984" for "the date of enactment of this chapter" in subpar. (A) and for "such date" in subpar. (B).

Subsec. (d)(5), (6). Pub. L. 103–272, §4(f)(1)(W)(iii), redesignated par. (6) as (5) and struck out former par. (5) which read as follows: "Each State or local government which, in any fiscal year of such government, receives directly from the Department of the Treasury a total of $25,000 or more under chapter 67 of this title (relating to general revenue sharing) and which is required to conduct an audit pursuant to this chapter for such fiscal year shall not have the option provided by paragraph (1)(A) for such fiscal year."

Subsec. (g). Pub. L. 103–272, §4(f)(1)(W)(iv), substituted "section 3512(c)" for "section 3512(b)".

Change of Name
Committee on Governmental Affairs of Senate changed to Committee on Homeland Security and Governmental Affairs of Senate, effective Jan. 4, 2005, by Senate Resolution No. 445, One Hundred Eighth Congress, Oct. 9, 2004.

Committee on Government Reform and Oversight of House of Representatives changed to Committee on Government Reform of House of Representatives by House Resolution No. 5, One Hundred Sixth Congress, Jan. 6, 1999. Committee on Government Reform of House of Representatives changed to Committee on Oversight and Government Reform of House of Representatives by House Resolution No. 6, One Hundred Tenth Congress, Jan. 5, 2007.

(*) Note:  Citation as of  12/26/2015 used for Exemplary Purpose of General Awareness and not for specific purpose of reliance. The strong relationship between Economics, Financials, Legal, Technology and the cross sector needs of Industry, Non Profits, NGOs, Government, Individuals, Families and Communities is a key cross point where DCarsonCPA MFC lines and DCarsonCPA on the Aggregate and Domestic Lines bring value to workflows to help on Teamwork for key Entity and Societal needs in the Economy and Financials. DCarsonCPA we are here to help on key needs where People Power Potential (Human Capital Resources) and Technology meet on workflows in the Economy and Financials. You can learn more at www.dcarsoncpa.com

DCarsonCPA on Accounting Policy / CFO Advisory Lines

We've been updating the lines on Accounting Policy in support of CFO / Advisory lines and Project Management lines where we can help on needs on Accounting, Taxes, Advisory, Compliance, Financials, Financial Analysis, Economic Research, Project Management, Business Analysis, Risk Management, Cyber Security and other needs on demand. From the DCarsonCPA Creative Artist and Cross Sector Lines / DCarsonCPA CALs. Support lines on Communications, Outreach and Awareness to key points where we meet on applied services and research.


DCarsonCPA on Accounting Policy CFO / Advisory Lines

DCarsonCPA on Project Management

DCarsonCPA on Project Management

DCarsonCPA Project Management, Business Analysis, Change Management, Data Integrity, Data, Programming, Risk Management, Financials, Compliance, Controls and IT Audit support lines under Brand DCarsonCPA on Risk  + Cyber support lines to key needs to help on the Economy follow the above linked image buttons for more.

DCarsonCPA on Pharma and Health Sector support lines

\DCarsonCPA on Health and DCarsonCPA on Pharma lines at DCarsonCPA

Between the Lines on Growth and the Lines on Risk as the point constraints on the Opportunity lines.

Between the Lines on Growth and the Lines on Risk as the point constraints on the Opportunity lines..... you find DCarsonCPA MFC The Lean Machine on Lean Project, Process and Advisory. We work on the lines of Entity to Economy and Economy to Entity E2E^2 for the Entity Performance Lines.

DCarsonCPA MFC on Growth, Innovation, and FINTECH in the Economy and Financials:

DCarsonCPA MFC on Linkedin

DCarsonCPA MFC on Risk + Cyber on Linkedin

Between the point constraints of the lines on Growth and Prudent Risk Management exist the relative point constraints to valid services and applied research where we meet on Services.

DCarsonCPA MFC Lines

on ICT, Cloud and Mobile Innovations at DCarsonCPA MFC, ICT,  Cloud and Mobile Innovation support lines. 

DCarsonCPA MFC Lines on CFO + Services Entity to Economy / Economy to Entity

DCarsonCPA MFC Lines on CFO + Services Entity to Economy / Economy to Entity E2E^2

DCarsonCPA Global E2E^2 : Entity to Economy & Economy to Entity lines. from Dean Carson CPA & Strategic Consultant


DCarsonCPA on CFO + Services: Context to Value on the Lean Performance Lines:

These are the sketch lines much more to the details on the next post out.

Set 1/2:

Set 2/2 close:





Broad Value lines on Strategic Planning from DCarsonCPA, Communications support from DCarsonCPA PRTC Lines, Lean Advisory on Financials, Compliance and the FINTECH lines to optimize the value of knowledge to performance. Learn more at www.dcarsoncpa.com and online at DCarsonCPA and DCarsonCPA MFC.

DCarsonCPA MFC A Quick look to the Growth lines

DCarsonCPA MFC A Quick look to the Growth lines:

DCarsonCPA MFC = The Lean Machine on Project, Process and Advisory

Lean Innovation support lines

DCarsonCPA ICT, Data, Cloud and Innovation Lines

DCarsonCPA Project Management and Business Analysis Lines

DCarsonCPA IT and Data Security

DCarsonCPA MFC on Linkedin

DCarsonCPA MFC " The Lean Machine on Project and Process Advisory" on You Tube

DCarsonCPA Small Business Services

DCarsonCPA SME Lines

This is an index to some of the DCarsonCPA MFC support lines as subsets of the DCarsonCPA lines for Global Financial Decision Making Research. On the integrated lines of cross functional skills to services for the Entity needs in the Economy through the Financials. For the overall lines of Entity IQ where the Data, Financials, Compliance, Analysis, Communications and Applied Research points connect to map in Technology and Financial skills AND much more on Advisory as expressed through the DCarsonCPA lines on the Economy and Financials.

Fast Track on support lines to DCarsonCPA MFC and DCarsonCPA to the key points as defined above.