N.J. Admin. Code § 16:53C-7.1

Current through Register Vol. 57, No. 1, January 6, 2025

Section 16:53C-7.1 - General provisions

(a) Recipients of financial assistance shall comply with the State of New Jersey Single Audit Policy defined by the Department of the Treasury, Office of Management and Budget (OMB Circular 04-04 or as superseded). The circular is available in electronic format on the New Jersey Department of the Treasury, Office of Management and Budget website at: http://www.state.nj.us/infobank/circular/circindx.htm.

(b) A single audit of the recipient shall be performed annually by an independent auditor or public accountant who meets the independence standards specified in generally accepted government auditing standards in conformity with the State of New Jersey Single Audit Policy.

(c) Audit costs incurred by the recipient to comply with this subchapter shall not be reimbursable.

N.J. Admin. Code § 16:53C-7.1

Adopted by 48 N.J.R. 1681(a), effective 8/15/2016