June 12 Federal Fund Management Advisor Webinar Will Outline How to Identify and Prevent Common A-133 Audit Findings

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June 12 webinar from Federal Fund Management Advisor will provide accurate advice about the applicable requirements and practical tips on compliance and control strategies, to preclude common A-133 audit findings.

The upcoming June 12 webinar from Federal Fund Management Advisor — “Single Audit Vulnerabilities — Common A-133 Audit Findings and How to Avoid Them” — will review areas of noncompliance or internal control that auditors find and report on — and outline the steps organizations can take to prevent such findings.

OMB is proposing a new government-wide standard for pre-award consideration of merit and financial risk for every applicant, and “reports and findings from single audits” are a key criterion that federal agencies will be expected to use. Therefore, trying to undergo an A-133 audit with no findings will be even more important in the future.

Independent auditors have many quality control reasons to try to prove that they are being thorough, and one way to prove that is to find something. Unfortunately, what auditors find and report on often involves inconsequential areas of noncompliance or internal control that are often relatively easy to detect. Being alert to those areas and knowing the steps that can be taken to prevent such findings is smart. The June 12 webinar is designed to do just that.

Participants will get accurate advice about the applicable requirements and practical tips on compliance and control strategies to preclude common findings on subjects such as:

  • Management of federal cash advances
  • Overvaluation of third party in-kind contributions
  • Timely disbursement of program income
  • Justification for sole source procurements
  • Documentation of cost or price analysis of purchases
  • Accountability for equipment acquired with grant and subgrant funds
  • Proper pre-award vetting of subrecipients and contractors
  • Timely, accurate reporting of “obligating actions” under FFATA
  • Use of budgeted amounts as the basis for time and effort reporting
  • Management of subrecipient audit reports and corrective action

Visit http://federalfundmanagement.com/webinars/wg314_061213 for more details and registration information.

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 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.

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.

About Federal Fund Management 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, “‘Man Bites Dog’: An Internal Control Lesson for Grantees.”

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Shelly Beaird-Francois
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