It’s a fact of life … many federal grant audits result in findings. Whether the auditors are performing your single audit or are from a federal agency or pass-through entity, their job is to determine whether there has been noncompliance with award requirements and whether that was caused by an internal control deficiency.
Auditors can question costs and recommend them for disallowance. Unfortunately, under current rules, your organization’s audit history can be used to tighten up terms and conditions of federal awards. And it can even cause future grant applications to be denied. While federally funded organizations must be given the opportunity to provide their views about the validity of audit findings, any response must be carefully crafted and accurate in order to reverse adverse consequences.
This webinar will provide realistic guidance about how to respond effectively to federal grant audit findings. You’ll learn about:
- The auditing standards affecting findings in layman’s terms
- Required features of audit findings, and how to deconstruct them
- Types of noncompliance findings
- Substantive noncompliance
- Procedural noncompliance
- Types of internal control findings
- Deficiencies
- Significant deficiencies
- Material weaknesses
- Bases for and calculation of questioned costs
- How views of management should be presented
- Strategies for crafting valid disagreements
- The audit resolution process
- Corrective action plans
- Awarding agency management decisions
- Disputes and appeals
- Closure of findings
Bob Lloyd is the instructor for this practical session. Bob has over 40 years of experience in federal award implementation and a proven track record of helping recipients and subrecipients address and resolve grant audit findings effectively and favorably.
WHO SHOULD ATTEND:
- Grant project directors
- Grant and contract managers
- Sponsored projects administrators
- Governing body members
- Audit committee members
- Chief executives
- Legal counsels
- Finance directors
- 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 1.5 CPE Credits