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What is an Incurred Cost Audit?

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KPMG Federal Audit
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Incurred Cost audits are used to bring transparency to government spending, and ensure uses of federal funds are in compliance with regulations/contractual requirements. Performance of these audits encourages a risk aware culture, and can identify instance of noncompliance which require repayment of funds to the government for efficient and lawful use of government dollars.

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What is an Incurred Cost Audit?

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