Specifications include, but are not limited to: An audit of the financial records and tests for internal control and compliance must be made in accordance with: 1. Title 2 Part 200 of the code of Federal Regulations; 2. Government Auditing Standards, by the Comptroller General of the United States, most recent revision. ("Yellow Book"); 3. AICPA's Audits of State and Local Governmental Units; 4. Government auditing standards required by 2 CFR Subpart F, Audit Requirements; 5. Other auditing standards applicable to Northwest Regional Planning Commission. NRPC also requires review and testing of its Indirect Cost Proposal each year. Since July 2014, NRPC has used the Fixed Rate with Carry Forward method of determining indirect costs.
