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The risk assessment requirements for pass-through entities provide is a framework for evaluating and establishing used to evaluate and establish an appropriate monitoring strategy for subrecipients to the prime Federal award.
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Overview
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Authorities
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2 CFR 200 Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards
"Contract" is defined in § 200.22 and means a legal instrument by which a non-Federal entity purchases property or services needed to carry out the project or program under a Federal award. The term as used in this part does not include a legal instrument, even if the non-Federal entity considers it a contract, when the substance of the transaction meets the definition of a Federal award or subaward.
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