Subrecipient Single Audits: How To Process and Use This Key Oversight Tool

Webinar • Tuesday, October 29, 2019  • 2:00-3:30 p.m. ET

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$249.00 Subrecipient Single Audits: How To Process and Use This Key Oversight Tool (10.29.19) (On-Demand Recording)

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$249.00 Subrecipient Single Audits: How To Process and Use This Key Oversight Tool (10.29.19) (CD Only)
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

It’s no secret that managing and monitoring federal grant subrecipients received plenty of attention a while back when the Office of Management and Budget issued its so-called “Super Circular.” Among the key tasks facing organizations passing through federal awards to subrecipients is the need to verify that those at the “lower tier” had been audited as required by the Single Audit Act and its implementing guidance, Subpart F of 2 CFR 200, which replaced OMB Circular A-133.

OMB’s instruction might seem pretty simple on its face, but, like a lot of things in federal fund management, there’s really a lot more to it. There are big implications for ongoing monitoring.

Pass-through entities need to keep one eye on the numerous applicable compliance requirements and the other on some internal control best practices. Failure to do so has resulted in audit findings for pass-through entities themselves.

This webinar has been organized to help pass-through entities avoid audit findings relating to subrecipient oversight by showing you how to:

  • Determine whether subrecipients are required to have a single audit performed
  • Verify whether the audit, if required, actually took place and
  • Assess whether the audit was performed properly following applicable auditing standards
  • Review the resulting report for relevant findings
  • Craft timely effective “management decisions”
  • Disallow costs, when necessary, and collect them back
  • Impose corrective actions that can prevent recurrence
  • Coordinate audit follow-up with other awarding agencies
  • Resolve disputes about validity of findings
  • Assure that appropriate corrective actions are completed timely
  • Decide what type of oversight is warranted going forward

Effective oversight of subrecipient single audits can play a critical role in advancing federal fund accountability — if you do it right. Join Bob Lloyd, principal of Federal Fund Management Advisor, for this comprehensive and practical program on how to make sure you do.

Who Should Attend?

  • Grant and contract managers
  • Sponsored projects administrators
  • Federal program managers
  • Project directors
  • Subrecipient monitors
  • Executives
  • Finance directors
  • Audit liaisons
  • Internal auditors
  • 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 1.5 CPE Credits

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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!

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