1.888.265.0600

OMB's 2016 Compliance Supplement for Single Audits - How Grantees Can Use It for Audit Readiness

REGISTER NOW

Please enter your desired quantity.

ONLINE

OnDemand
$249.00


$249.00 OMB's 2016 Compliance Supplement for Single Audits - How Grantees Can Use It for Audit Readiness(OnDemand)

CD Only
$249.00 plus $12 S&H


$249.00 OMB's 2016 Compliance Supplement for Single Audits - How Grantees Can Use It for Audit Readiness(CD Only)

BY PHONE

1-888-265-0600

Webinar Details

Subject: Grants Management

How to Use OMB’s 2016 Single Audit Compliance Supplement for Audit Readiness

When you were in school, you wanted to know what you would be tested on so that you could study the right things. Back then, the instructor kept the exam under wraps until you and your fellow students were in your seats. But, in the current world of federal grants management and audit, the test questions are readily available. They’re arrayed in the annual issuance of the Compliance Supplement for Single Audits compiled by the U.S. Office of Management and Budget (OMB). And the 2016 version will have significant changes that will drive the field work and reporting that your independent auditors will conduct in your next annual audit. So knowing what those are and how to be ready for them is a wise move.

In some past years, the changes to the Compliance Supplement weren’t that consequential. But this year, the transition to new administrative requirements and cost principles brought about under OMB’s grant reform initiative has largely been completed. So testing against the new requirements is going to be the normal drill. OMB has said that it wants single audits to concentrate more on higher–dollar, higher-risk programs, and to test the most important compliance requirements and the internal controls over them. The 2016 Compliance Supplement is the evidence that they mean what they say.

Your independent auditors are busy getting ready to use the revised document. Grant recipients and subrecipients need to be doing the same thing. This webinar will help do just that — from the point of view of the auditee and in layman’s language. You’ll learn:

  • Which “big ticket” compliance tests have been retained and in what ways
  • What key text changes have been made to the audit of cross-cutting grant requirements
  • What documentation are auditors being told to look for
  • What adjustments have been made to listings of specific federal programs and clusters of programs
  • How has the guidance on audit of internal controls over compliance been updated
  • What special advisories and high-risk alerts have been incorporated

The results of your single audit are going to be used to make future decisions about your federal funding. Get ready for that examination with this timely and informative program presented by Bob Lloyd, principal of Federal Fund Management Advisor.

Level: Basic
Prerequisites: Some knowledge of federal grant management and audit requirements is helpful
Advanced preparation: None

Hand-out Materials

Attendees will receive presentation slides as well as access to background documents.

Course Instructor

BOB LLOYD is a respected authority on policies and practices affecting the award, administration and oversight of federal grants, contracts and subawards. Mr. Lloyd has more than 40 years of experience in federal award implementation. Prior to starting his management consulting practice in Washington, D.C., in 1982, he served as the executive director of the Grants Management Advisory Service and held staff positions in two large federally funded organizations. Since then, he has been a consultant, trainer or advisor to award and audit units in 16 federal award-making departments and agencies, and to recipient and subrecipient organizations and their professional advisors located in all 50 states, the District of Columbia, several U.S. territories and 18 foreign countries. He is the principal author of A Practical Guide to Federal Grants Management — From Solicitation Through Audit and several other reference works on federal grants management and audits, and currently serves as contributing editor to Federal Grants News, published by Atlantic Information Services. He also is a Charter Life Member of the National Grants Management Association and served on its Board of Directors for five years.

Who Should Attend?

  • Finance directors
  • Accounting staff
  • Internal auditors
  • Legal counsels
  • Audit liaisons
  • Grant and contract managers
  • Sponsored projects administrators
  • Program managers

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).

Select to add to your shopping cart.

Get practical grants management guidance that blends age-old conventional wisdom
with the historic changes in OMB’s uniform guidance:
Add A Practical Guide to Federal Grants Management -
From Solicitation Through Audit, 2nd Edition
to your order!

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!

Federal Fund Management Advisor

About Us

Contact

 1.888.265.0600
 service@federalfundmanagement.com