Introduction: Materiality by Compliance Requirement Matrix Planning Federal Materiality by Compliance Requirement See Footnotes 1-6 below the matrix table for further explanation, in particular, review note 6 which discusses tailoring the matrix assessments (1) (2) (6) (6) (3) (4) (5) (5) (6) Direct & If monetary, Federal Applicable material to population Final control Overall audit materiality by per Compl. program / Monetary or subject to Inherent risk risk (CR) Detection risk risk of compl. Suppl. entity nonmonetary require. (IR) assess. assess. of noncompl. noncompl. requirement typically 5% of population subject to Compliance Requirement (Yes or No) (Yes or No) (M/N) (Dollars) (High/Low) (High/Low) (High/Low) (High/Low) requirement A Activities Allowed or Yes M 5% Unallowed B Allowable Costs/Cost Yes M 5% Principles C Cash Management Yes N 5% D RESERVED E Eligibility No F Equipment & Real No Property Mgmt G Matching, Level of Yes M 5% Effort, Earmark Yes M H Period of Availability 5% (Performance) I Procurement & Sus. & Yes N 5% Debarment J Program Income No K RESERVED L Reporting Yes N 5% M Subrecipient Monitoring Yes N 5% N Special Tests & Yes N 5% Provisions – Schoolwide Programs N Special & Yes N 5% Provisions – Developing and
Introduction: Materiality by Compliance Requirement Matrix Planning Federal Materiality by Compliance Requirement See Footnotes 1-6 below the matrix table for further explanation, in particular, review note 6 which discusses tailoring the matrix assessments (1) (2) (6) (6) (3) (4) (5) (5) (6) Compliance Requirement Applicable per Compl. Suppl. Direct & material to program / entity Monetary or nonmonetary If monetary, population subject to require. Inherent risk (IR) assess. Final control risk (CR) assess. Detection risk of noncompl. Overall audit risk of noncompl. Federal materiality by compl. requirement (Yes or No) (Yes or No) (M/N) (Dollars) (High/Low) (High/Low) (High/Low) (High/Low) typically 5% of population subject to requirement A Activities Allowed or Unallowed Yes M 5% B Allowable Costs/Cost Principles Yes M 5% C Cash Management Yes N 5% D RESERVED E Eligibility No F Equipment & Real Property Mgmt No G Matching, Level of Effort, Earmark Yes M 5% H Period of Availability (Performance) Yes M 5% I Procurement & Sus. & Debarment Yes N 5% J Program Income No K RESERVED L Reporting Yes N 5% M Subrecipient Monitoring Yes N 5% N Special Tests & Provisions – Schoolwide Programs Yes N 5% N Special & Provisions – Developing and Yes N 5%
UG_FACCR_84048_Career_Tech_2016_IPA_Final_Oct2016.docx