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  • at 10:28 pm #293
    Isaiah Williams, Ph.D.
    Participant

    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?

    at 1:10 pm #495
    Sam@EGC
    Participant

    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.

    at 6:21 pm #546
    Isaiah Williams, Ph.D.
    Participant

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

    at 1:34 pm #561
    Sam@EGC
    Participant

    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.
    https://www.nsf.gov/bfa/dias/caar/fin.jsp

    at 3:04 pm #570
    Isaiah Williams, Ph.D.
    Participant

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

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