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Final For-Profit Audit Guidance (FY 2011 and Following)

NOTE THE ATTACHED IS THE MOST RECENT GUIDANCE AND APPLIES TO AUDITS FOR RECIPIENT’S FYS 2011, 2012 and 2013.  NEW GUIDANCE WILL BE ISSUED IN DECEMBER 2014 WHICH WILL APPLY TO AUDITS OF RECIPIENT’S FY 2014.

The following General Audit Program provides requirements and guidance for independent audit organizations in conducting program compliance audits of for-profit recipients of federal financial assistance from the Department of Energy (DOE) under DOE’s Financial Assistance regulations at 10 CFR 600.316. The requirements for financial statement audits of for-profit recipients are not provided for under Regulation 10 CFR 600.316, which applies only to program compliance audits. As such, this Audit Program and all compliance supplements (Parts II and III of this guidance) do not apply to financial statement audits. DOE is not requiring an audit of financial statements solely to address the requirements of 10 CFR 600.316.

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