1.800.677.3789

Recipients, Subrecipients: Use the 2024 Compliance Supplement for Audit Readiness

Webinar • Tuesday, June 18, 2024 • 2:00-3:30 p.m. EDT

See Webinar Catalog › View Your purchased
on-demand webinar(s) ›
REGISTER NOW

Please enter your desired quantity.

On-Demand Recording
$249.00
(Available for viewing
until 06.18.2025)


$249.00 Recipients, Subrecipients: Use the 2024 Compliance Supplement for Audit Readiness (06.18.24) (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

In late May, just as it does every spring, the U.S. Office of Management and Budget rolled out a massive audit guide called the Compliance Supplement. It’s always eagerly awaited by independent auditors who perform audits under the Single Audit Act.

The Supplement identifies compliance requirements to be tested and suggests audit procedures for how that testing should be conducted. It it is also a roadmap to audit readiness for federal grant recipients and subrecipients. The document is often referred to as “a safe harbor” because OMB has stated that, “For the compliance requirements related to Federal programs contained in the compliance supplement, an audit of these compliance requirements will meet the requirements” of Subpart F of 2 CFR 200, the federal policy implementing the audit statute.

The Supplement is a set of directions for audit readiness that this webinar will show you how to use effectively. You’ll learn:

  • How auditors use the Supplement to determine which requirements to test
  • The key compliance features of OMB’s cross-cutting administrative and cost policies
  • Which federal grant programs and clusters have unique requirements that must be tested
  • Types of documentary evidence likely to be sought by auditors
  • How OMB and the agencies designate “higher risk” programs — such as those enacted in response to the COVID-19 pandemic such as the American Rescue Plan Act (ARPA) and the Bipartisan Infrastructure Law
  • Recently published risk alerts and policy clarifications that you need to know about

This timely and practical session will capture the essentials of the 2024 Supplement from the perspective or recipients and subrecipients and will help assure your organization’s audit readiness.

WHO SHOULD ATTEND:

  • Grant and contract managers
  • Sponsored projects administrators
  • Internal auditors
  • Grant project directors
  • Finance directors
  • Audit liaisons
  • Accounting staff
  • 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).

Attend this Live Webinar and Earn up to 1.8 CPE Credits

Select to add to your shopping cart.

Add the 2nd edition of A Practical Guide to Federal Grants Management for just the price of shipping!


Finally! A practical guide to grants management.

Get practical grants management guidance that blends age-old conventional wisdom
with the historic changes in OMB’s uniform guidance:
Add A Practical Guide to Federal Grants Management -
From Solicitation Through Audit, 3rd Edition
to your order!

This comprehensive resource blends age-old conventional wisdom with the historic changes in OMB’s uniform guidance. You'll benefit from the advice of experts on time and effort reporting, procurement under grants, direct charging certain costs, single audit preparations, subrecipient monitoring and much more. The 500+ page softbound book is a valuable management guide, compliance document and training tool for busy grants managers, program directors, financial officers and auditors at nonprofit organizations, educational institutions, and state and local governments.

This valuable resource will help you and your grants management team:

  • Understand the differences between direct and indirect costs
  • Make the subrecipient vs. contractor determination
  • Realize the full impact of OMB’s emphasis on internal controls
  • Understand which familiar elements of time and effort reporting have been retained in the uniform guidance ... and which are new
  • Know the nuances of requirements for subrecipient assessment and monitoring
  • Understand contract clauses in agreements for procurement under grants
  • Apply the general tests of allowability
  • Understand special issues confronting pass-through entities contracting with foreign organizations
  • Know which clauses flow down when crafting a subaward
  • Understand what is meant by a 10% de minimis indirect cost rate
  • Audit the vulnerabilities in your grants management operation
  • Understand what is meant by audit "resolution"
    ...and much more

A Practical Guide to Federal Grants Management is the best insurance policy there is for limiting your organization’s risk of disallowed costs, loss of federal funding and public relations nightmares. Add it to your order today!

Contact US

(All fields required)

First Name:
Last Name:
Organization:
Email:
Phone:

Webinar Training Pass (Small Group Pass)



Number of Users:

Federal Fund Management Advisor

About Us
Manage Account

Contact

 1.800.677.3789
 service@federalfundmanagement.com