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How often do I need to complete a risk assessment of a subrecipient?

PassWSFR completes a risk assessment annually on each of our prime recipients (state fish and wildlife agencies).  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.on their subrecipients prior to issuing an agreement to pass Federal funds.  For multi-year agreements with the same subrecipient, pass-through entities may choose to complete one risk assessment that will cover the entire duration of the award.  Pass-through entities are strongly encouraged to develop written policies and procedures outlining their processes for risk assessments.  

Where should I keep the results of our subrecipient risk assessment?

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