COFAR Issues New FAQs on Uniform Guidance for Federal Awards
To answer grant stakeholder questions about the new Uniform Guidance for Federal Awards, the Council on Financial Assistance Reform (“COFAR”) on Friday issued Frequently Asked Questions For The Office of Management and Budget’s Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards At 2 CFR 200. The new frequently asked questions document (FAQ) covers parts of 2 C.F.R 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, and incorporates the February document released by the COFAR.
Furthermore, the Governmental Audit Quality Center (“GAOC”) is reviewing the FAQ document and plans to issue a GAQC Alert with additional information soon. In the meantime, register for the Firm’s upcoming free live webinar, “Supercircular 101—Proposed New Regulations for Grant Requirements and Compliance”.