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3.UseofFederalauditors.Federalauditorsmayperformallorpartoftheworkrequiredunder <br />thispartiftheycomplyfullywiththerequirementsofthispart. <br />4.AuditFindingsfollowup.TheCityisresponsibleforfollowupandcorrectiveactiononall <br />auditfindingsinaccordancewith2CFR§200.511 AuditFindingsfollowup.2CFR§200.511(b) <br />requirestheauditeetoprepareasummaryscheduleofpriorauditfindingsandquestioned <br />costs.Thesummaryscheduleofpriorauditfindingsandthecorrectiveactionplanmustinclude <br />thereferencenumberstheauditorassignstoauditfindingsunder2CFR§200.516 Auditfindings, <br />paragraph(c).Sincethesummaryschedulemayincludeauditfindingsfrommultipleyears,it <br />mustincludethefiscalyearinwhichthefindinginitiallyoccurred.Thecorrectiveactionplan <br />andsummaryscheduleofpriorauditfindingsmustincludefindingsrelatingtothefinancial <br />statementswhicharerequiredtobereportedinaccordancewithGAGAS. <br />The Summaryscheduleofpriorauditfindings mustreportthestatusofallauditfindingsincluded <br />intheprioraudit'sscheduleoffindingsandquestionedcosts.Thesummaryschedulemustalso <br />includeauditfindingsreportedintheprioraudit'ssummaryscheduleofpriorauditfindings <br />exceptauditfindingslistedascorrectedinaccordancewithparagraph(b)(1)ofthissection,or <br />nolongervalidornotwarrantingfurtheractioninaccordancewithparagraph(b)(3)ofthis <br />section. <br />(1)Whenauditfindingswerefullycorrected,thesummaryscheduleneedonlylisttheaudit <br />findingsandstatethatcorrectiveactionwastaken. <br />(2)Whenauditfindingswerenotcorrectedorwereonlypartiallycorrected,thesummary <br />schedulemustdescribethereasonsforthefinding'srecurrenceandplannedcorrective <br />action,andanypartialcorrectiveactiontaken.Whencorrectiveactiontakenissignificantly <br />differentfromcorrectiveactionpreviouslyreportedinacorrectiveactionplanorinthe <br />Federalagencyorpassthroughentity'smanagementdecision,thesummaryschedulemust <br />provideanexplanation. <br />(3)Whentheauditeebelievestheauditfindingsarenolongervalidordonotwarrantfurther <br />action,thereasonsforthispositionmustbedescribedinthesummaryschedule.Avalid <br />reasonforconsideringanauditfindingasnotwarrantingfurtheractionisthatallofthe <br />followinghaveoccurred: <br />(i)Twoyearshavepassedsincetheauditreportinwhichthefindingoccurredwas <br />submittedtotheFAC; <br />(ii)TheFederalagencyorpassthroughentityisnotcurrentlyfollowingupwiththe <br />auditeeontheauditfinding;and <br />(iii)Amanagementdecisionwasnotissued. <br />Correctiveactionplan.Atthecompletionoftheaudit,theauditeemustprepare,inadocument <br />separatefromtheauditor'sfindingsdescribedin§200.516 Auditfindings,acorrectiveaction <br />plantoaddresseachauditfindingincludedinthecurrentyearauditor'sreports.Thecorrective <br />actionplanmustprovidethename(s)ofthecontactperson(s)responsibleforcorrectiveaction, <br />thecorrectiveactionplanned,andtheanticipatedcompletiondate.Iftheauditeedoesnot <br />agreewiththeauditfindingsorbelievescorrectiveactionisnotrequired,thenthecorrective <br />actionplanmustincludeanexplanationandspecificreasons. <br />CITYOFSANMARCOSCDBGDRFINANCIALPOLICIES&PROCEDURESMANAUAL30|P <br />AGE <br /> <br />