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The ‘Dirty Dozen’: Common Single Audit Findings and How to Avoid Them

Webinar • Wednesday, June 9, 2021 • 2:00-3:30 p.m. ET

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$249.00 The ‘Dirty Dozen’: Common Single Audit Findings and How to Avoid Them (06.09.21) (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

Ever since “The Dirty Dozen” film was released in the mid-1960s, the title has proved to be serviceable in any number of contexts. These days, we’re lending it to a collection of common findings that have arisen in the single audits of organizations that are spending federal grants and subgrants.

As you know, those audits are the federal government’s first line of defense against fraud, waste, abuse and noncompliance with federal award terms and conditions. So what are your vulnerabilities?

Relying on data compiled by various federal offices of inspectors general, we’ve compiled a “dirty dozen” list of the most common single audit findings and formulated a program to: (1) analyze the underlying policy requirement involved, and (2) suggest strategies for avoiding or correcting a grants management misstep that may have led to the finding.

Here’s the list we will address in the webinar:

  • Conflict of interest in grant-funded procurements
  • Unjustified non-competitive or sole source procurements
  • Failure to vet contractors or document the review actions
  • Absence of prior approval when it is required
  • Cost allowability issues based on non-allocability and lack of documentary support
  • Failure to post applicable credits offsetting allowable costs
  • Violations of recipient organizational policies that create federal issues
  • Time and effort reporting based on budgeted amounts
  • Documentation of third party in-kind contributions
  • Gaps in property records and inventory
  • Weak subrecipient monitoring procedures
  • Failure to review and resolve subrecipient audits

Although there may be others, our research puts these at the top of the list. Avoiding such audit findings is critical to successful federal grant implementation. Join us for this helpful antidote to the “dirty dozen.”

WHO SHOULD ATTEND:

  • Grant and contract managers
  • Sponsored projects administrators
  • Purchasing agents
  • Grant project directors
  • Principal research investigators
  • Finance directors
  • Accounting staff
  • 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).

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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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