The inspectors general (IGs) of federal agencies that award large amounts of grants are required to rely heavily on single audits performed by nonfederal auditors for assurance that recipients and subrecipients are complying with laws and regulations. IGs routinely review these audits to obtain “audit leads” where supplemental federal audits might be warranted and to identify areas ripe for issuance of “prevention alerts” to reduce future violations.
Certainly, some single audit findings show consequential unallowable costs or weaknesses in internal control. But a host of other findings show up that are (1) indicative of auditee carelessness and (2) easy for auditors to detect and document. The fact that they are disclosed leads to an often-irritating audit resolution process and a problematic grants management auditee track record.
Based on IG data, this webinar will highlight a dozen common (and sometimes nitpicking) single audit findings and provide tips for avoiding them. You’ll learn about:
- Required pre-award steps for your subrecipients
- Verifying suspended or debarred status
- Easily overlooked or deficient management policies
- Important actions skipped or accomplished out-of-sequence
- Simple transaction documentation errors
- Gaps in record retention
- Auditor judgements about significance of findings
- How findings can “take on a life of their own”
Join us for this revealing summary of mistakes that often turn into single audit findings and learn how to prevent them from becoming part of your organization’s grants management reputation.
WHO SHOULD ATTEND:
- Grant and contract managers
- Sponsored projects administrators
- Project directors
- Subaward managers
- Executives
- Finnace directors
- Accounting staff
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).
Attend this Live Webinar and Earn up to 2.4 CPE Credits