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Frequently Asked Questions
What is the purpose of having to complete a Risk Assessment on our subrecipients?
The purpose for pass-through entities having to complete a risk assessment on each of their subrecipients is to better help ensure that the Federal award is spent properly and that the subrecipient complies with all applicable Federal statutes, regulations, and terms/conditions. This is the same reasoning why each Federal awarding agency must also complete a risk assessment on each of their prime recipients prior to issuing a Federal award. The risk assessment also provides the framework by which the pass-through entity can help to mitigate for any potential risk associated with each subrecipient.
Am I required to complete a Risk Assessment on both subrecipients and contractors before issuing a subaward?
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Pass-through entities should complete a risk assessment once per fiscal year for each subrecipient who will be awarded one or more subawards from the pass-through entity.
Where should I keep the results of our subrecipient Risk Assessment?
It is a best management practice to keep the results of each subrecipient Risk Assessment in either your agencies official subrecipient award file or a centralized subject-matter reference file. In either the case, the results of the Risk Assessment should be easily obtainable by your program/fiscal staff and auditors if they request it.
What criteria or factors should a pass-through entity evaluate when conducting a risk assessment on a potential subrecipient?
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