COFAR releases updated Uniform Guidance FAQs July 2017, including auditee responsibilities related to the SEFA, prior audit findings, and the Corrective Action Plan.
In July 2017, the Council on Financial Assistance Reform (COFAR) released an update to the Frequently Asked Questions document of the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). There are 24 new FAQs that were added to the document, along with revisions to four previously released FAQs.
The update includes many new questions related to indirect costs, including many that may be useful to subrecipients receiving awards from pass-through entities.
There is also clarification on the presentation details of the Schedule of Expenditures of Federal Awards (SEFA) and the auditee responsibilities related to the Summary Schedule of Prior Audit Findings and the Corrective Action Plan.
Additional requirements have been set forth requiring auditee Corrective Action Plans to be submitted on auditee letterhead (200.511-1).
The complete FAQ can be found at
Uniform Guidance FAQs.