MCC Financial Statement Audit

Description

The Contractor shall conduct the financial statement audits in accordance with GAGAS, as revised, with the Office of Management and Budget (OMB) Bulletin 24-02, as amended, Audit Requirements for Federal Financial Statements, as amended, and with the Government Accountability Office/Council of Inspectors General on Integrity and Efficiency�s Financial Audit Manual (GAO/CIGIE FAM), as amended, and OMB Circular A-136, revised July 14, 2025, as amended. The Contractor shall prepare their working papers in accordance with Generally Accepted Auditing Standards (GAAS), Generally Accepted Government Auditing Standards (GAGAS), GAO/CIGIE�s FAM regarding audit documentation, GAO Standards for Internal Control in the Federal Government (Green Book), May 15, 2025, and GAO A Framework for Managing Fraud Risks in Federal Programs, July 2015, (GAO-15-593SP). The financial statements will be prepared by MCC. The financial statements will be prepared based upon Generally Accepted Accounting Principles (GAAP) for federal reporting entities using the hierarchy contained in Statement of Federal Financial Accounting Standards (SFFAS) 34, issued by the Federal Accounting Standards Advisory Board. The USAID Office of Inspector General (USAID OIG) is responsible for its oversight of the Contractor�s audit services. USAID OIG will issue the draft report for MCC�s management comments. The USAID OIG will also issue the draft and final report with OIG�s transmittal (refer to the GAO/CIGIE�s FAM, Volume 2, Section 670, Pages 670-B-2 to B-3). The first year of this audit will cover FY2026 and following fiscal years if options are exercises.