What qualifications must an audit firm meet to be considered for auditing ISEP administration?
Primary source
Verbatim text below is from the Electronic Code of Federal Regulations (eCFR), a public-domain U.S. government work. Always verify the current version with the eCFR before relying on it for any legal matter.
Full Text
To be considered for auditing ISEP administration under this subpart, an independent audit firm must:
(a) Be a licensed Certified Public Accountant Firm that meets all requirements for conducting audits under the Federal Single Audit Act;
(b) Not be under investigation or sanction for violation of professional audit standards or ethics;
(c) Certify that it has conducted a conflict of interests check and that no conflict exists; and
(d) Be selected through a competitive bidding process.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.