SBIR Land Home Forums Grant Accounting & Management When will I be audited?

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    I have a Phase I NSF SBIR grant right now, and we will be finished in March. Do I need to prepare for an audit at that time? Will I be audited before then?


    You are not likely to be audited with a Phase 1 NSF. Organizations expending $750,000 or more per year in Federal awards are required to have an audit performed in accordance with the regulation.


    What if we are awarded a Phase II following completion of our Phase I? Will we be audited then?


    The NSF requests a Financial Capabilities Review (CAP Review) once a Phase II proposal is being seriously considered for funding. The NSF is looking for assurance of the company’s financial stability and internal ability to manage a larger award.


    Okay, great, thank you so much for your help!

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