The Agency’s Chief Acquisition Officer has approved a class deviation to the Federal Acquisition Regulation (FAR), revising the audit threshold applicable to termination settlement proposals (TSPs) for certain contracts terminated in response to Executive Order 14169, Reevaluating and Realigning United States Foreign Aid or Executive Order 14151, Ending Radical and Wasteful Government DEI Programs and Preferencing. The CAO also issued a new Agency assistance policy, establishing audit requirements for final award payment proposals under assistance awards terminated in response to the referenced Executive Orders. For the purposes of this communication, TSPs and final award payment proposals are referred to collectively as “settlement proposals.” Moving forward, the mandatory audit threshold for all settlement proposals is $50 million, subject to certain conditions, including potential audits for settlement proposals below $50 million.
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USAID Announces Audit Requirements for Terminated Awards
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