```

[Federal Register Volume 76, Number 245 (Wednesday, December 21, 2011)]
[Notices]
[Pages 79168-79169]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-32622]

=======================================================================
-----------------------------------------------------------------------

DEPARTMENT OF ENERGY

U.S. Department of Energy Audit Guidance: For-Profit Recipients

AGENCY: U.S. Department of Energy.

ACTION: Request for information.

-----------------------------------------------------------------------

SUMMARY: The U.S. Department of Energy (DOE) seeks information and 
comments related to the requirements and guidance for independent audit 
organizations in conducting program compliance audits of for-profit 
recipients of federal financial assistance from DOE under its financial 
assistance regulations.

DATES: Written comments and information are requested on or before 
January 20, 2012.

ADDRESSES: Interested persons are encouraged to submit comments using 
the Federal eRulemaking Portal at http:[sol][sol]www.regulations.gov. 
Follow the instructions for submitting comments. Alternatively, 
interested persons may submit comments by any of the following methods:
     Email to: FederalRegisterAuditComments@hq.doe.gov. Hand 
Delivery/Courier: Ms. Kimberly Krizanovic, U.S. Department of Energy, 
4th Floor (Suite 4A-236), 1000 Independence Avenue SW., Washington, DC 
20585. Phone: (202) 586-5304. Please submit one signed paper original.

FOR FURTHER INFORMATION CONTACT: Ms. Kimberly Krizanovic, U.S. 
Department of Energy, Office of the Chief Financial Officer, 4th Floor 
(Suite 4A-236), 1000 Independence Avenue SW., Washington, DC 20585. 
Phone: (202) 586-5304. Email: kimberly.krizanovic@hq.doe.gov.

SUPPLEMENTARY INFORMATION: U.S. Department of Energy Audit Guidance: 
For-Profit Recipients provides requirements and guidance for 
independent audit organizations in conducting program compliance audits 
of for-profit recipients of federal financial assistance from the 
Department of Energy (DOE) under Regulation 10 CFR 600.316. The 
requirements for financial statement audits of for-profit recipients 
are not provided for under Regulation 10 CFR 600.316, which applies 
only to program compliance audits. As such, this Audit Program and all 
compliance supplements (Parts II and III of this guidance) do not apply 
to financial statement audits. Audits of financial statements are 
allowable as indirect costs if the recipient normally has financial 
statement audits. However, DOE is not requiring an audit of financial 
statements solely to address Regulation 10 CFR 600.316, nor are 
financial statement audits allowable as direct costs to satisfy the 
requirements of Regulation 10 CFR 600.316.
    Compliance audits as required under Regulation 10 CFR 600.316 and 
this

[[Page 79169]]

Audit Program must be conducted in accordance with the requirements and 
guidance set forth in Statement on Auditing Standards No. 117, 
Compliance Audits (SAS 117) and generally accepted government auditing 
standards (GAGAS). The audit procedures provided in this Audit Program 
are the minimum necessary for uniform and consistent audit coverage.
    DOE seeks comment and information on this audit guidance to 
potentially improve the usefulness and clarity of the guidance. You may 
access the guidance at: http:[sol][sol]energy.gov/management/downloads/
draft-profit-audit-guidance-fy-2011.

    Issued in Washington, DC, on December 15, 2011.
Patrick M. Ferraro,
Acting Director, Office of Procurement and Assistance Management, 
Office of Management, Department of Energy.
[FR Doc. 2011-32622 Filed 12-20-11; 8:45 am]
BILLING CODE 6450-01-P
```