Audit 317231

Title: BASIS OF PRESENTATION Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: The accompanying indirect rate calculation is prepared in accordance with the Uniform Guidance and additional regulations issued by the United States Agency for International Development (USAID). Concern Worldwide (U.S.) Inc. has elected not to use 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of Concern Worldwide (U.S.), Inc. (“Concern Worldwide”) under programs of the federal government for the year ended December 31, 2023. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal regulations (CFR) Part 200, Uniform Administrative Requirements, Costs Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Concern Worldwide, it is not intended and does not present the financial position, changes in net assets, or cash flows of Concern Worldwide. Amounts provided to sub-recipients shown separately on the Schedule are also a component of the federal expenditures presented. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.