- Pub Code: WG316-11WEB
- Originally held on Aug. 1, 2013
Can You Speak 'Auditese'? — A Guide for Nonfinancial Personnel in Federally Funded Organizations
August 1, 2013 Webinar - Listen On-Demand or Get a CD!
Part of the problem with federal grant auditors is that they speak a language that most “regular” people can have trouble understanding. This webinar will help you get a handle on the key auditing standards, objectives and procedures that are essential in getting your organization audit-ready — and help you forge a more effective partnership with your finance office.
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.
Conversational Federal Grant “Auditese”: A Guide to the “Lingo”
Part of the problem with federal grant auditors is that they speak a language that most “regular” people can have trouble understanding. Auditors favor seemingly comical acronyms like GAGAS, GAAS, and GAAP. They use arcane phrases like “low assessed level of control risk” and “likely questioned costs.” So when they show up to do their work, what they’re doing and why they are doing it can be pretty mysterious to the average federal program manager or governing body member.
Nonetheless, the nonfinancial personnel in any federally funded organization need to be conversant in “auditese,” particularly in the current highly charged federal grant accountability environment. And it’s not just the vocabulary — it’s the usage, too.
Getting a handle on the key auditing standards, objectives and procedures can be essential to helping your organization be audit-ready. It will certainly help you forge a more effective partnership with your finance office as you jointly try to assure that your organization is financially accurate, legally compliant, and programmatically efficient and effective.
This webinar will translate “auditese” into understandable layman’s terms and increase your “foreign language” comfort level. You’ll learn about:
- The two prongs of federal audit policy: For federal and nonfederal audits
- Financial audit objectives: Accuracy, internal control and compliance
- Performance audit objectives: Economy, efficiency and program results
- Audit standards: What are they? Who issues them? Why are they important?
- Audit criteria: Laws and regulations, and accepted and best practices
- Audit process: All the events in the life of an audit
- Audit results: Opinions, reports, findings and recommendations
- After the audit: How to use audits to improve administration and performance of federal grants and subgrants
Prerequisites: Some knowledge of federal grants management is helpful but not necessary
Advanced preparation: None
Attendees will receive presentation slides as well as access to 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 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 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 and NACUBO. 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?
- Federal program managers
- Sponsored programs administrators
- Service providers
- Principal investigators and other research staff
- Audit liaisons
- Governing body members
- Audit committee members
- Financial staff members and internal auditors (At the end of the session, the other participants will understand why you act like you do.)
The costs of webinars sponsored by Federal Fund Management Advisor are allowable charges to your federal grants and subgrants. Each of the sets of federal cost principles issued by OMB for federal awards administered by state, local, and tribal governments, colleges and universities, and nonprofit organizations explicitly states that the costs of training for employee development and vocational effectiveness are allowable. For your records, the specific citations are:
- OMB Circular A-21 (2 CFR 220), Appendix A, Paragraph J.51—Colleges and Universities
- OMB Circular A-87 (2 CFR 225), Appendix B, Paragraph 42—State, Local and Tribal Governments
- OMB Circular A-122 (2 CFR 230), Appendix C, Paragraph 49(a)—Nonprofit Organizations
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 email 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 email, 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 email), you will be sent an email 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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