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