- Pub Code: WG203-11WEB
- Originally held on Feb. 9, 2012
How to Leave a Federal Grant Audit Trail
February 9, 2012 Webinar - Listen On-Demand or Get a CD!
“If it isn’t documented, it didn’t happen.” That phrase has probably been uttered more times than you’d care to count by independent auditors conducting examinations of federal grant recipients and subrecipients under Office of Management and Budget Circular A-133. And while it might be arguable whether it’s true in all circumstances, the fact remains that the best way to satisfy an auditor’s inquiries about federal award charges is to leave a clear “audit trail” of documentation that they can accept as sufficient.
The On-Demand recording will be available immediately upon purchase* as a link within a PDF file of the accompanying written materials. CDs and printed materials are shipped via USPS.
Good documentation is the key to surviving a federal grant audit.
Since auditors can question any costs they deem to be “unsupported,” grant documentation is a serious matter. The problem is that the federal requirements on the subject aren’t much help. For example, the administrative policies of OMB Circulars A-102 and A-110 ambiguously state only that accounting records must be “supported by source documentation” All the federal cost principles cryptically add is that costs must be “adequately documented.” Any other hints about what’s adequate are scarce and buried deep in the federal grant rules. So, with so little to go on, how can a federally funded organization make sure it is leaving an effective audit trail?
This webinar will help you identify the specifics of what the federal requirements actually say about grant documentation, and will introduce you to common sense best practices that will help you develop credible, reliable and sufficient support in a timely manner for charges like:
- Employee compensation
- Professional services
- Equipment purchase and utilization
- Space occupancy
- Third party in-kind contributions
Prerequisites: Some knowledge of federal grant management and audit requirements is helpful
Advanced preparation: None
Attendees will receive presentation slides as well as background documents.
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 nearly 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 sixteen 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 several reference works on federal grants management and audits, and currently serves as contributing editor to Federal Grants News and Federal Auditing News, published jointly by Atlantic Information Services, NACUBO and NCURA. 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?
- Grant and Contract Administrators
- Sponsored Program Administrators
- Federal Program Managers
- Principal Investigators
- Program managers
- Subaward administrators
- Internal Auditors
- External Auditors
CDs (and accompanying written materials) are shipped via UPS. Please give us your street address when you order (UPS does not deliver to PO boxes). You should receive your order within two weeks.* Shipping and handling cost is $12.
The On-Demand Recording will be delivered as a link within a PDF file of the accompanying written materials. Shipping will NOT be charged for this item.
- If you order the On-Demand Recording before the conference date (by itself or in combination with the live Webinar), you will be sent an e-mail with the PDF file attached once the recording is available.*
- After the On-Demand Recording is available*, if you order on this website through our secure shopping cart, you will receive an e-mail, immediately after submitting your order, with a link directing you to download the PDF file. If you order through our customer service department (by phone, mail, fax or e-mail), you will be sent an e-mail with the PDF file attached.
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*On-Demand recordings will be available within a week of the conference and CDs will be available within two weeks.
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