A close-out audit consists of the financial statements and compliance reports, prepared according to LSC OIG guidance,
for the final period in which the auditee received direct LSC funding. It is a close-out audit if the auditee has not
received direct LSC funds beyond the FY-ending date of the audit submission.
Close-out also applies if it is the final audit of a recipient as a separate legal entity and the recipient is merging into another organization.