[Code of Federal Regulations]
[Title 15, Volume 1, Parts 0 to 299]
[Revised as of January 1, 2001]
From the U.S. Government Printing Office via GPO Access
[CITE: 15CFR295.10]

[Page 459-460]
 
                  TITLE 15--COMMERCE AND FOREIGN TRADE
 
 CHAPTER II--NATIONAL INSTITUTE OF STANDARDS AND TECHNOLOGY, DEPARTMENT 
                               OF COMMERCE
 
PART 295--ADVANCED TECHNOLOGY PROGRAM--Table of Contents
 
                           Subpart A--General
 
Sec. 295.10  Special reporting and auditing requirements.

    Each award by the Program shall contain procedures regarding 
technical, business, and financial reporting and auditing requirements 
to ensure that awards are being used in accordance with the Program's 
objectives and applicable Federal cost principles. The purpose of the 
technical reporting is to monitor ``best effort'' progress toward 
overall project goals. The purpose of the business reporting system is 
to monitor project performance against the Program's mission as required 
by

[[Page 460]]

the Government Performance and Results Act (GPRA) mandate for program 
evaluation. The audit standards to be applied to ATP awards are the 
``Government Auditing Standards'' (GAS) issued by the Comptroller 
General of the United States (also known as yellow book standards) and 
the ATP program-specified audit guidelines. The ATP program-specific 
audit guidelines include guidance on the number of audits required under 
an award. In the interest of efficiency, the recipients are encouraged 
to retain their own independent CPA firm to perform these audits. The 
Department of Commerce's Office of Inspector General (OIG) reserves the 
right to conduct audits as deemed necessary and appropriate.

[62 FR 64686, Dec. 9, 1997. Redesignated at 63 FR 64415, Nov. 20, 1998]