Planning Federal Materiality by Compliance Requirement (6) CFAE included the typical monetary vs. nonmonetary determinations for each compliance requirement in this program. However, auditors should tailor these assessments as appropriate based on the facts and circumstances of their entity’s operations. See further guidance below. (1) (2) (6) (6) (3) (4) (5) (5) (6) Direct & If material monetary, Final Federal Applicable to Monetary or population Inherent control Detection Overall materiality by per Compl. program / subject to risk (IR) risk (CR) risk of audit risk of compl. Suppl. entity 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 Yes M 5% Unallowed B Allowable Costs/Cost Yes M 5% Principles C Cash Management Yes N 5% D RESERVED E Eligibility Yes M/N 5% F Equipment & Real Property Yes M 5% Mgmt G Matching, Level of Effort, Yes M 5% Earmark H Period of Availability Yes M 5% (Performance) I Procurement & Sus. & Yes N 5% Debarment J Program Income Yes M 5% K RESERVED L Reporting Yes N 5% M Subrecipient Monitoring No N Special Tests & Provisions Yes N 5% Maximum per Unit Subsidy and Underwriting Requirements N Special Tests & Provisions Yes N 5% Drawdown of HOME Funds N Special Tests & Provisions Yes N 5% Housing Quality Standards
Planning Federal Materiality by Compliance Requirement (6) CFAE included the typical monetary vs. nonmonetary determinations for each compliance requirement in this program. However, auditors should tailor these assessments as appropriate based on the facts and circumstances of their entity’s operations. See further guidance below. (1) (2) (6) (6) (3) (4) (5) (5) (6) Compliance Requirement Applicable per Compl. Suppl. Direct & material to program / entity Monetary or 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 Yes M/N 5% 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 No N Special Tests & Provisions Maximum per Unit Subsidy and Underwriting Requirements Yes N 5% N Special Tests & Provisions Drawdown of HOME Funds Yes N 5% N Special Tests & Provisions Housing Quality Standards Yes N 5%
A133%20FACCR%2014239%20CDBG%20HOME%20Program%202015%20(non-ARRA,%20non-UG)%20Nov.15.docx