- Pub Code: WG205-11WEB
- Originally held on Feb. 23, 2012
Internal Controls Over Federal Grant Programs — Fundamentals of Design and Operation
February 23, 2012 Webinar - Listen On-Demand or Get a CD!
The procedures that your organization uses to manage federal grants and subgrants are really an “accountability insurance policy.” The beneficiaries are your organization, its constituency, your awarding agency and the taxpaying public. Arguably, the fundamental challenge of federal fund management is how the controls are designed and operated to reduce the risk that financial information will be misstated, violations of applicable laws and regulations will occur, or assets will be misused or wasted. That’s why review and testing of internal controls is such a key element of the annual audit that most recipients and subrecipients must undergo under OMB Circular A-133.
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.
Learn how to design and implement internal controls for federal grant programs.
But while these controls are essential to effective handling of federal awards, there are very few places in the federal rulebooks that you or your auditors can point to and say that a specific feature must be present. Instead, the federal government has wisely refrained from dictating internal control procedures for recipients and subrecipients. It has chosen instead to introduce management standards that identify capabilities that internal control systems need to have, while leaving the design details to the affected entities. In a nutshell, there’s no “one size fits all” approach.
But before you relax because of this flexible approach, it’s important to recognize that the bar has been lowered in the characterization of internal control deficiencies in audit reports, and those reports are being used to help make federal award decisions. So it’s worthwhile to look at what’s really required for internal controls over federal programs and what’s simply prudent to have.
This webinar will help you do that. You’ll learn:
- What is the current model for internal control over federal programs?
- What reliable tools are available to help design those controls?
- What are the standards for federal grant financial management, purchasing and property management?
- Which key federal compliance requirements create vulnerabilities that warrant internal control responses?
- How do we strike a balance to reduce risk to a tolerable level?
- How should we handle legitimate departures from normal procedures? And, how should we handle problematic departures?
Prerequisites: Some knowledge of federal grant management and audit requirements is helpful
Advanced preparation: None
Attendees will receive presentation slides as well as background material.
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
- 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.
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