Bob Lloyd to Address How to Resolve Audit Findings from the Perspective of the Auditee in Upcoming Webinar

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Federal grants expert Bob Lloyd will address how to resolve audit findings from the perspective of the auditee, with the objective of reducing adverse impact in a December 15 webinar presented by Federal Fund Management Advisor.

Federal Fund Management Advisor is pleased to announce its December 15 webinar, Adverse Findings in Grant Audits: Anatomy, Diagnosis and Treatment. For more information see webinar details at http://federalfundmanagement.com/webinars/wg103_121511. The days of “no findings” audits involving federal grants appear to be over. Whether the audits are conducted by independent auditors under Office of Management and Budget Circular A-133 or by federal offices of inspectors general and their “duly authorized representatives,” the auditors are under pressure to prove that they did their work.

Unfortunately, for organizations administering federal funds, that means that assertions about noncompliance with federal requirements and deficiencies in internal control can be a fact of life. And, if those findings are sustained by awarding agencies, the consequences can involve repaying disallowed costs, jeopardy to future federal awards, and harm to the organization’s reputation. But what if the findings are not valid or only partially correct?

This webinar will address how to resolve audit findings from the perspective of the auditee, with the objective of reducing adverse impact. Participants will get answers to questions such as:

  • What are the types of adverse audit findings?
  • What are bases for questioned costs?
  • What are the required auditing standards for elements of an audit finding?
  • What are the steps for issuing an audit finding?
  • What if some of the required elements of a finding aren’t there?
  • What are the possible bases for challenging a finding?
  • How and when should challenges be mounted?
  • What are the steps in the audit resolution process?
  • What if the finding is correct?

The webinar will be presented by Bob Lloyd, a respected authority on policies and practices affecting the award, administration and oversight of federal grants and contracts. He has nearly 40 years of experience in federal fund management. Prior to starting his management consulting practice in Washington, D.C., in 1982, he served as executive director of the Grants Management Advisory Service. Earlier, he held senior staff positions in two large federally funded organizations. Since forming his practice, he has served under contract to sixteen major federal award-making departments and agencies, and as a consultant, trainer or advisor to recipients, subrecipients and their professional advisors located in all 50 states, the District of Columbia and 18 foreign countries. He has delivered hundreds of training courses on federal fund management topics and has served as principal author or contributor for seven professional reference services.

After a 60-minute presentation, a concluding 30-minute question-and-answer session will allow webinar participants to pose individual questions to Mr. Lloyd.

Visit http://federalfundmanagement.com/webinars/wg103_121511 for more details and registration information.

Federal Fund Management Advisor is a new organization sponsors Federal Funding webinars and delivers free Federal Funding E-Strategies. Go to http://www.FederalFundManagement.com to read the latest E-Strategy, Debunking “In-Kind” Contributions, and more in the E-Strategy Archives.

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Shelly Beaird-Francois
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