524 - Risk

Under the uniform guidance, risk must be assessed at the pre-award, post-award and audit stages of an award. While monitoring is traditionally associated with post-award and audit, the heightened attention on risk extends effective monitoring procedures to pre-award risk assessments of applicants. An overriding priority of the uniform guidance is to reduce waste, fraud and abuse. The higher the risk, the more likely the opportunities for waste, fraud and abuse. Federal agencies, therefore, must assess applicant risk before making an award decision (§200.211) unless a program statute or agency regulation states otherwise. Elevated risk could prevent an award, even if the… Read More