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  3. Auditing and Reporting Requirements: Multiple for-profit entities under common control issue combined financial statements. Can each of the for-profit entities fulfill the 45 CFR §75.501 audit requirements by having one financial-related audit of all HHS awards in accordance with Government Auditing Standards that incorporates each of the entities?

Auditing and Reporting Requirements: Multiple for-profit entities under common control issue combined financial statements. Can each of the for-profit entities fulfill the 45 CFR §75.501 audit requirements by having one financial-related audit of all HHS awards in accordance with Government Auditing Standards that incorporates each of the entities?

Multiple for-profit entities under common control issue combined financial statements. Can each of the for-profit entities fulfill the 45 CFR §75.501 audit requirements by having one financial-related audit of all HHS awards in accordance with Government Auditing Standards that incorporates each of the entities?

Yes, multiple for-profit entities under common control that issue combined financial statements can have one financial-related audit of all HHS awards that incorporated each of the entities. 45 CFR §75.501(i) audit requirements permit this approach.

(Added 9/13/2021)

Auditing and Reporting Requirements
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