Part 4 provides a detailed discussion on cost principles that govern federal awards under Pub. L. 93-638 & Pub. L. 100-297, including Subpart E of the Uniform Guidance; and Section 106(k) of the Indian Self-Determination Act. The discussions will include a detailed discussion of the KIVA Cost Principles Crosswalk. This Part provides an opportunity to distinguish the differences in cost principles as they apply to discretionary grant awards and federal entitlement programs such as awards under Pub. L. 93-638 & Pub. L. 100-297.

Part 5 thoroughly covers the Single Audit Act and its requirements as it relates to all federal awards. It explains why audits are required; the audit threshold limits; audit report requirements; auditor’s opinion; sanctions for non-compliance; what a Schedule of Findings and Schedule of Questioned Costs are; and what a Management Decision is.