Learn How to Avoid 12 Common Grant Audit Findings in Sept. 24 Webinar

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Federal grants expert Bob Lloyd will give a preventive briefing on 12 common grant audit findings in a Sept. 24 webinar sponsored by Federal Fund Management Advisor.

Federal Fund Management Advisor is pleased to announce its Sept. 24 webinar, “A-133 Vulnerabilities: 12 Common Grant Audit Findings and How to Avoid Them,” a preventative briefing presented by federal grants expert Bob Lloyd.

There’s little question that independent auditors reviewing grant and subgrant expenditures in audits performed under Office of Management and Budget Circular A-133 have been adopting a more aggressive stance in recent years. Federal concerns about widespread substandard non-federal audit quality have been pushing them in that direction. The auditors have to prove conclusively that they performed the tests and procedures necessary to meet the scope of the required examination. And, not surprisingly, patterns have emerged as to the types of requirements where auditors are rendering findings.

On Sept. 24, webinar participants can expect an in-depth look at the following common audit findings:

  • Faulty time and effort reporting
  • Spotty purchasing documentation
  • Inadequate cost or price analysis
  • Failure to check the Excluded Parties List System (EPLS)
  • Substandard records for grant-acquired property
  • Untimely or ineffective inventory practices
  • Failure to obtain prior approval when required
  • Mismanagement of federal cash advances
  • Tripping over internal organizational policies
  • Incurring questionable costs
  • Failure to show cost allocability
  • Questionable documentation of cost sharing or matching

The webinar will be presented by Bob Lloyd, 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.

Attendees of the Live Webinar Can Earn Up to 1.5 CPE Credits
Federal Fund Management Advisor is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: http://www.learningmarket.org.
Visit http://federalfundmanagement.com/webinars/wg223_092412 for more details and registration information.

About Federal Fund Manangement Advisor
Federal Fund Management Advisor is an organization that sponsors Federal Funding webinars and delivers free Federal Funding E-Strategies. Go to http://www.FederalFundManagement.com to read the latest E-Strategy, “Four Ways to Justify Sole Source Contracts Under Your Federal Grants.”

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Shelly Beaird-Francois
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