25 C.F.R. § 1000.21 When does a Tribe/Consortium have a “material audit exception”?
Title 25 - Indians
A Tribe/Consortium has a material audit exception if any of the audits that it submitted under §1000.17(c) identifies: (a) A material weakness, that is a condition in which the design or operation of one or more of the internal control components does reduce to a relatively low level the risk that misstatements in amounts that would be material in relation to the financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions; (b) a single finding of known questioned costs subsequently disallowed by a contracting officer or awarding official that exceeds $10,000. If the audits submitted under §1000.17(c) identify any of the conditions described in this section, the Tribe/Consortium must also submit copies of the contracting officer's findings and determinations.
Title 25: Indians
PART 1000—ANNUAL FUNDING AGREEMENTS UNDER THE TRIBAL SELF-GOVERNMENT ACT AMENDMENTS TO THE INDIAN SELF-DETERMINATION AND EDUCATION ACT
Subpart B—Selection of Additional Tribes for Participation in Tribal Self-Governance
Eligibility
§ 1000.21 When does a Tribe/Consortium have a “material audit exception”?
