The Office of Management and Budget finally found the time to release their annual Compliance Supplement, the single audit tool that independent auditors must use to identify grants management requirements to be tested and to consider what procedures they’ll employ to determine whether those requirements have been followed.
While the Supplement is really a massive audit guide whose primary audience is independent auditors, it is just as much a single audit readiness tool for grant recipients and subrecipients that shouldn’t be overlooked. The delay has set back single audit performance schedules across the country.
But the Supplement is not the only recent policy development affecting your upcoming single audit. Therefore, Federal Fund Management Advisor has developed a webinar that will cover:
- How to unpack the 2025 Compliance Supplement from an auditee perspective and identify compliance and control vulnerabilities that should be addressed to avoid findings.
- Revisions to the “Yellow Book” — the Government Accountability Office audit standards — that are kicking in in the coming months containing requirements for audit quality management.
- Implementation of the Financial Management Risk Reduction Act (PL 118-207) which requires a closer look at the appropriate level of audit coverage for organizations expending lesser amounts of federal funding.
- Continuing tailored oversight of recipients of funds under the Coronavirus State and Local Fiscal Recovery Fund that were required to obligate the money by the end of 2024 and to make final disbursements by the end of 2026.
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