19A NCAC 05B .0202 PRE‑AWARD AUDIT: ACCOUNTING SYSTEM
All contracting firms, agencies, or recipients of grants, except those whose contract was awarded as a result of the bidding process, state purchasing procedures, and those classified as local governments reporting under the Single Audit Act (Office of Management and Budget Circular A-128, "Audits of State and Local Governments"), shall allow their accounting systems to be reviewed by the External Audit Branch of the Department of Transportation in order that the auditors may determine that the accounting system is capable of segregating and maintaining costs applicable to the contract or agreement.
History Note: Authority G.S. 143‑2; 143B‑10(j);
Eff. July 1, 1978;
Amended Eff. December 1, 1993; November 1, 1991;
Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. October 24, 2015.