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Your Next Single Audit: Like None Before

Webinar • Thursday, July 9, 2020 • 2:00-3:30 p.m. ET

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$249.00 Your Next Single Audit: Like None Before (07.09.20) (On-Demand Recording)

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$249.00 Your Next Single Audit: Like None Before (07.09.20) (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

Since 1984, the annual process of having federal fund expenditures audited under the Single Audit Act had become pretty routine for thousands of recipients and subrecipients. However, now, in the face of the COVID-19 pandemic, nothing is routine.

The disruptions to existing federal awards brought on by shutdowns and loss of operations, the introduction of time-limited administrative flexibilities, and the infusion of hundreds of billions of new financial assistance dollars into the federal aid system are combining to assure that your next single audit will not be like any of those you’ve experienced before. And, it’s already clear that these audits are going to be a key accountability tool the government will rely to balance mission accomplishment, expediency, transparency and accountability in this highly charged federal aid environment.

This webinar will provide you with an up-to-date briefing presented from the perspective of recipients and subrecipients on the materials and responses needed for single audit readiness and survival. We’ll cover:

  • Preparation of the Schedule of Expenditures of Federal Awards (SEFA)
  • Use of CFDA/Assistance Listing numbers
  • Audit scope
  • Audit coverage of CARES Act funding streams
  • Documenting exercise of administrative flexibilities
  • Procurement of audit services considerations
  • Adjustments to auditing standards
  • OMB’s evolving Compliance Supplement
  • Challenges of field work at a distance
  • Audit report components
  • Reporting package submission deadlines and possible extensions
  • Desk review and quality control review of audit reports
  • Audit findings resolution procedures

Join Bob Lloyd, principal of Federal Fund Management Advisor™ and the original author of the Single Audit Information Service, now published by Columbia Books and Information Services, for this timely and thorough session.

WHO SHOULD ATTEND:

  • Grant and contract managers
  • Sponsored projects administrators
  • Finance directors
  • Accounting staff
  • Program managers
  • Principal investigators
  • 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"
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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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