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) If Direct & monetary, Final Federal Applicable material to population Inherent control Detection Overall materiality by per Compl. program / Monetary or subject to risk (IR) risk (CR) risk of audit risk of Suppl. entity nonmonetary require. assess. assess. 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 Unallowed Yes M 5% B Allowable Principles Yes M 5% C Cash Management Yes N 5% D RESERVED E Eligibility No F Equipment & Real Property Mgmt Yes M 5% 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 Yes M 5% K RESERVED L Reporting Yes N 5% M Subrecipient Monitoring Yes N 5% N Special Tests & Provisions - Charter Yes N 5% Service N Special & Provisions School Yes N 5% – Bus Operation N Special Tests & Provisions Wage Yes N 5% – Rate Requirements Yes N N Special Tests & Provisions 5% – Environmental Review
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 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 Principles Yes M 5% C Cash Management Yes N 5% D RESERVED E Eligibility No F Equipment & Real Property Mgmt Yes M 5% 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 Yes M 5% K RESERVED L Reporting Yes N 5% M Subrecipient Monitoring Yes N 5% N Special Tests & Provisions - Charter Service Yes N 5% N Special & Provisions – School Bus Operation Yes N 5% N Special Tests & Provisions – Wage Rate Requirements Yes N 5% N Special Tests & Provisions – Environmental Review Yes N 5%
UG_FACCR_Federal_Transit_Cluster_IPA_Version_2016_Final_Nov2016.docx