The federal government’s first line of defense against fraud, waste, abuse, and noncompliance in grant programs involves audits — those performed by nonfederal auditors under Subpart F of the uniform guidance, and those performed by federal inspectors general and by public accounting firms under contract to the feds.
The current overheated accountability atmosphere is making auditors more aggressive than ever. In short, they need to prove their compliance testing has been thorough. And that makes it critical for recipients and subrecipients to show that grant costs were actually incurred, that they benefitted federal programs, and that they were accurately and timely recorded using convincing documentation.
Unfortunately, most of the federal rules about the features of acceptable source documentation for grant charges are ambiguous. They use terms like “adequately documented” and “supported by source documentation” without getting into specifics.
This webinar will highlight best practices in creating a federal grant audit trail that leads to audit readiness … and survival. You’ll learn about:
- Bases for auditor questioning of unsupported costs
- Importance of organizational policies in setting documentation criteria
- Steps for documenting prior approvals
- Documentation for “personal expenses”
- Proper application of fringe benefit and indirect cost rates
- What OMB means by “the history of the procurement”
- Features of solid property records
- Documenting subaward management and monitoring
- Creating justifications for allowability of costs not specifically cited in the rules
WHO SHOULD ATTEND:
- Grant project directors
- Sponsored programs administrators
- Finance directors
- Accounting staff
- Grant and contract managers
- Purchasing agents
- Property managers
- Internal 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).
Attend this Live Webinar and Earn up to 1.8 CPE Credits