📊GSA Revises Federal Audit Clearinghouse Information Collection
Information Collection; Federal Audit Clearinghouse (FAC)
Summary
In accordance with the Paperwork Reduction Act (PRA), the GSA is proposing a revision to an existing information collection request (ICR) for the Data Collection Form (SF-SAC) and associated FAC webform. The revisions add an optional resubmission pathway and optional structured fields within audit findings (questioned costs, criteria, condition, cause, effect, recommendation, response), as well as new Yes/No webform fields for auditor disclosures of known fraud, likely fraud, summary schedule of prior audit findings, and significant instances of abuse, consistent with 2 CFR 200.516(b)(5)-(7).
Agencies
- General Services Administration
Business Impact
$$$ - High
The notice requires compliance from businesses that receive federal awards, as it outlines changes in the audit process and reporting requirements under the FAC. The inclusion of optional pathways and fields for audit findings will impact information collection and require businesses to adapt their reporting practices.