OMB 2021 Compliance Supplement: How Grant Recipients and Subrecipients Can Use It for Audit Readiness

Webinar • Wednesday, August 25, 2021 • 2:00-3:30 p.m. ET

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$249.00 OMB 2021 Compliance Supplement: How Grant Recipients and Subrecipients Can Use It for Audit Readiness (08.25.21) (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

As they do annually, independent auditors who perform audits under the Single Audit Act of 1984 have eagerly awaited release of the Office of Management and Budget’s latest Compliance Supplement. With all the funding activity associated with the pandemic, the CARES Act and the American Rescue Plan Act (ARPA), the 2021 edition is loaded with information for auditors. But it is just as significant for grant recipients and subrecipients.

The Supplement is an official and integral part of OMB’s larger “uniform guidance” codified in 2 CFR 200, and is often referred to as a “safe harbor.” It is essentially an audit guide that instructs auditors what federal grant compliance requirements they are required to test, and it suggests ways to perform that testing.

It’s really just as much of a “safe harbor” for recipients and subrecipients, too. If your organization can respond to the documentation requests and the testing regimens discussed in the Supplement, it improves your chances that troublesome findings won’t surface in your audit report and adversely impact future funding decisions.

This webinar has been designed — from the recipient and subrecipient perspective — to familiarize you with this hefty document and improve your audit readiness … and survival! You’ll learn:

  • The key compliance tests that have been retained — and in what ways
  • New special advisories about the CARES Act and the ARPA programs that are included, and which ones are still being awaited
  • Where and how key testing changes are being made in the Supplement’s discussion of  requirements across all federal grant programs
  • What adjustments have been made in the listings for over 200 federal programs and clusters of programs
  • How auditors are being instructed to review internal controls over grant compliance
  • How assessment of grant performance is being integrated with traditional financial auditing
  • How to address compliance issues before audit field work begins or while it is ongoing
  • What additional guidance is likely to be issued in a Supplement addendum

Join Bob Lloyd, principal of Federal Fund Management Advisor™ and author of two comprehensive reference works on Single Audit Act policies and practices, for this timely look at the OMB Compliance Supplement.


  • Grant and contract managers
  • Sponsored projects administrators
  • Accounting staff
  • Finance directors
  • Program managers
  • Procurement officers
  • Subgrant monitors
  • Internal auditors
  • External auditors

Join Bob Lloyd, principal of Federal Fund Management Advisor™, for this unique session.

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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