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§200.49, GAAP "has the meaning specified in accounting standards issued by the Government <br />Accounting Standards Board (GASB) and the Financial Accounting Standards Board (FASB)." <br />c. When conducting an audit of the Sub -Recipient's performance under this Agreement, <br />the Division shall use Generally Accepted Government Auditing Standards ("GAGAS"). As defined by 2 <br />C.F.R. §200.50, GAGAS, "also known as the Yellow Book, means generally accepted government <br />auditing standards issued by the Comptroller General of the United States, which are applicable to <br />financial audits." <br />d. If an audit shows that all or any portion of the funds disbursed were not spent in <br />accordance with the conditions of this Agreement, the Sub -Recipient shall be held liable for <br />reimbursement to the Division of all funds not spent in accordance with these applicable regulations and <br />Agreement provisions within thirty days after the Division has notified the Sub -Recipient of such non- <br />compliance. <br />e. The Sub -Recipient shall have all audits completed by an independent auditor, which <br />is defined in section 215.97(2)(h), Florida Statutes, as "an independent certified public accountant <br />licensed under chapter 473." The independent auditor shall state that the audit complied with the <br />applicable provisions noted above. The audit must be received by the Division no later than nine months <br />from the end of the Sub -Recipient's fiscal year. <br />f. The Sub -Recipient shall send copies of reporting packages for audits conducted in <br />accordance with 2 C.F.R. Part 200, by or on behalf of the Sub -Recipient, to the Division at the following <br />address: <br />DEMSingle_Audit@em.myflorida.com <br />OR <br />Office of the Inspector General <br />2555 Shumard Oak Boulevard <br />Tallahassee, Florida 32399-2100 <br />g. The Sub -Recipient shall send the Single Audit reporting package and Form SF -SAC <br />to the Federal Audit Clearinghouse by submission online at: <br />http://harvester.census.gov/fac/collect/ddeindex.htmI <br />h. The Sub -Recipient shall send any management letter issued by the auditor to the <br />Division at the following address: <br />DEMSingle_Audit@em.myflorida.com <br />OR <br />Office of the Inspector General <br />2555 Shumard Oak Boulevard <br />Tallahassee, Florida 32399-2100 <br />0 <br />