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Federal Transit Administration
Financial Management Oversight Seminar 2005

Page 147 - FTA Circular 5010.1C, Chapter III - Financial Management

Annual Audits

"The audit is not resolved until FTA concurs in the documentation of steps taken to implement any needed corrective actions. The status of outstanding audit findings and recommendations should be monitored and reported by the grantee in quarterly progress reports and, where appropriate, significant events reported."


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2005 - Federal Transit Administration