Are financial statements prepared in accordance with GAAP?

Do you have a complete Schedule of Expenditures of Federal Awards (SEFA) that aligns with your general ledger?

Are supporting documents—like invoices, receipts, and contracts—organized and accessible?

Have you documented internal controls to prevent fraud and misuse?

Are all account reconciliations current and reviewed regularly?

Are all costs charged to federal awards allowable, reasonable, and necessary under 2 CFR §200.403?

Can you provide accurate time and effort reports for employees working on federal programs?

Are payroll allocations supported by certifications or system-generated reports?

Do you have a process for reviewing indirect cost rates and ensuring alignment with approved cost allocation plans?

Does your procurement policy comply with 2 CFR §200.317–§200.327?

Can you provide records of competitive bids or sole-source justifications?

Have you verified subrecipient eligibility and issued compliant subaward agreements?

Do you monitor subrecipients through reports, site visits, or reviews?

Are there procedures for addressing subrecipient audit findings?

Are all financial and performance reports accurate and submitted on time?

Are reports reviewed and reconciled before submission?

Do you retain records for at least three years after final reporting per 2 CFR §200.334?