Avoiding Grant Audit Vulnerabilities

Webinar • Tuesday, January 23, 2018 • 2:00-3:30 p.m. ET

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$249.00 plus $12 S&H

$249.00 Avoiding Grant Audit Vulnerabilities (CD Only)
Webinar Details

Subject: Post-award

Prerequisites: Some knowledge of federal grant management and audit requirements is helpful

Recommended Field of Study: Specialized Knowledge and Applications, Auditing (including Government Auditing)

Program Knowledge Level: Basic

Advanced Preparation: None

Audits remain the federal government’s first line of defense against fraud, waste, abuse and noncompliance in federal grant programs. The annual audits performed by independent auditors required under the Single Audit Act and Subpart F of 2 CFR 200 (the OMB uniform guidance, which replaced Circular A-133) are intended to be an essential internal control procedure for nearly 40,000 organizations nationwide.

These engagements are routinely supplemented by examinations conducted by offices of federal inspectors general or by public accounting firms operating under contract to those offices. The findings in the resulting audit reports are a litany about what can go wrong in federal grant and subgrant awards. But, for smart recipients and subrecipients, those findings can also be a roadmap for how to avoid problems.

Why examine this roadmap? New federal policies have ramped up the steps that federal agencies and pass-through entities are required to undertake when deciding whether and how to make new federal grant awards. A specific criterion in these “risk assessments” is the results “from audits performed under Subpart F … or other reports and findings of any other available audits.” Simply put, avoiding audit findings provides a clearer path to future funding, particularly in this highly charged federal budgetary environment where awarding agencies may be looking for any excuse not to fund somebody.

During this webinar, you’ll learn about the common findings in administrative areas like:

  • Cost allowability and allocability
  • Federal cash management
  • Proper documentation
  • Effort reporting
  • Matching or cost sharing
  • Procurement of goods and services
  • Subrecipient management and monitoring
  • Management of grant-acquired property
  • Financial and performance reporting
  • Resolution of prior audit findings

And, you’ll receive practical, timely advice about the steps you can take to make sure that findings don’t pop up when the auditors visit you.

Join Bob Lloyd, principal of Federal Fund Management AdvisorÔ, for this thorough review of a key federal grants management responsibility.

Who Should Attend?

  • Grant and subgrant managers
  • Program managers
  • Principal investigators
  • Audit committee members
  • Executives
  • Finance directors
  • Audit liaisons
  • Accounting staff
  • Purchasing agents

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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Finally! A practical guide to grants management.

Get practical grants management guidance that blends age-old conventional wisdom
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Add A Practical Guide to Federal Grants Management -
From Solicitation Through Audit, 2nd Edition
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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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