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AC 150/5100-10A <br />4/13/76 <br />(2) Subsequent Reviews. FAA will review sponsor financial management <br />systems as often as it is deemed necessary but reviews will be <br />made at least every 24 months to determine if the sponsor <br />complies with the standards. <br />(3) <br />Results of Review. FAA will notify sponsors of the results of <br />periodic reviews within 30 days of their completion. <br />d. Effect of Audit Findings on Grant Payment Procedures. Advance pay- <br />ments to a sponsor will not be made when the sponsor's financial <br />management system does not meet the standards of FAR 152, Appendix K. <br />Reimbursements will be made in lieu of advances when the sponsor's <br />records are adequate for audit purposes. <br />Page 14 <br />Chap 2 <br />Par 29 <br />• <br />• <br />