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).
Attend this Live Webinar and Earn up to 1.5 CPE Credits