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ARPA Audit Readiness: What You Need To Know Now

Webinar • Thursday, November 03, 2022 • 2:00-3:30 p.m. ET

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$249.00 ARPA Audit Readiness: What You Need To Know Now (11.03.22) (On-Demand Recording)
Webinar Details

Prerequisites: Some knowledge of federal grant management and audit requirements is helpful

Recommended Field of Study: Specialized Knowledge and Applications

Program Knowledge Level: Basic

Advanced Preparation: None

The unprecedented amount of pandemic relief funding made available under the American Rescue Plan Act (ARPA) has challenged the federal government’s grant management workforce, as well as that of recipients and subrecipients — many with limited federal award experience. Federal officials in charge of ARPA’s $350 billion State and Local Fiscal Recovery Fund (SLFRF) have sought to balance accountability while easing up on prior approvals and reporting frequency and content.

One accountability requirement that the federal government can’t step away from is the Single Audit Act of 1984. Under that law, any nonfederal entity that expends more than $750,000 in covered federal awards during their fiscal year must arrange for an independent audit. Now, federal officials have crafted a new alternative accountability procedure that permits a simpler single audit compliance for some organizations.

These examinations are going to be the federal government’s first line of defense against mismanagement of ARPA SLFRF grants and subgrants. So, if your organization has spent some of these ARPA funds as a recipient or subrecipient, this webinar will help you get “audit ready.” We’ll cover:

  • Affected recipients and subrecipients
  • Covered federal awards
  • Applicable requirements for managing ARPA funds
  • What’s involved with the alternative accountability procedure
  • Procurement of audit services
  • Preparation of the Schedule of Expenditures of Federal Awards (SEFA)
  • Compliance requirements subject to audit testing
  • Features of the resulting audit report
  • Current report submission requirements
  • Tips about resolving any audit findings

WHO SHOULD ATTEND:

  • Grant and contract managers
  • Sponsored projects administrators
  • Governing board members
  • Executives
  • Finance directors
  • Accounting staff
  • Federal project managers
  • Internal auditors
  • External auditors

Hand-out Materials:

Attendees will receive presentation slides as well as access to background materials.

Allowable Charges

The costs of webinars sponsored by Federal Fund Management Advisor™ are allowable charges to your federal grants and subgrants. The cost principles issued by OMB under its uniform guidance (and applicable to all types of awardees) state, “The cost of training and education for employee development is allowable” (2 CFR 200.472).

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