Okla. Admin. Code § 260:80-1-29 - Audits

Current through Register Vol. 39, No. 7, December 15, 2021

(a) Periodic internal audits of the Agency's operations and financial affairs shall be conducted in accordance with the schedule established by the Oklahoma State Auditor and Inspector.
(b) The Agent shall comply with the external audit requirements and donee audit submission requirements of Office of Management and Budget Circular A-133, "Audits of States, Local Governments, and Non-Profit Organizations" for each year in which the Agent receives $500,000 or more in Federal surplus property or other Federal assistance.
(c) The Agent shall provide GSA with two copies of any audit report made pursuant to OMB Circular A-133 or two copies of those sections that pertain to the Federal donation program.
(d) The Agent shall provide GSA an outline of all external audit related corrective actions and scheduled completion dates for the actions required.
(e) The Agent shall provide for cooperation in GSA or Comptroller General conducted audits. GSA shall notify the Chief Executive Officer of the State of the reasons for a GSA audit.
(f) The Agent shall advise donees that if a donee receives property with a value of or exceeding $500,000 during a fiscal year, that the donee shall provide the Agent with a copy of an audit of the donee conducted in accordance with OMB Circular No. A-133. The Agent shall advise the donee that it is the donee's responsibility to identify and determine the amount of property received by the donee and to arrange for audits.

Notes

Okla. Admin. Code § 260:80-1-29
Adopted by Oklahoma Register, Volume 31, Issue 24, September 2, 2014, eff. 9/12/2014

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