The PCAOB has rules that are set by the government, for example regulatory functions. These rules set by the PCAOB are identical to the rules set by GAAP. When the auditor is there, management and staff must tell the truth. The company must answer all questions from the auditor. Staff should not elaborate on any issue and treat all listeners with the utmost respect. Management should ensure that all documents are ready for the auditor and create a file only for this specific audit. The company should be aware that the auditor is looking for expenses that match the approved proposal and budget. Make sure there is solid documentation. And also, make sure everything is in compliance with OMB circulars, including A-21, and DS-2 (Lynee, 2015). When the monitoring process is underway, the company should know that it will need to closely examine salary limits, effort reporting, cost sharing, program revenue, F&A costs, manufacturing and also modifications (Lynee, 2015). Once the audit is completed, management as well as the internal audit department should carefully read all documents and ensure that everything is correct. The company must also follow through on any audit action plans (Lynee,