Two Seasoned Federal Fund Experts to Provide Auditee, Auditor Perspective on OMB’s Revised Single Audit Procedures

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The Feb. 20 webinar from Federal Fund Management Advisor will review the changes to audit requirements under OMB’s new grant reforms.

Although “A-133” has been a familiar part of federal funding lingo for decades, it is now being replaced by a section of OMB's new “Super Circular.” And, inside that new package are important changes to single audit requirements. The Feb. 20 webinar from Federal Fund Management Advisor, “Single Audit — Good-Bye Circular A-133 … Hello Revised Procedures,” will drill down on all of the changes — from both an auditee and auditor perspective.

Principal of Federal Fund Management Advisor, Bob Lloyd, and former regional inspector general for audit at the U.S. Department of Education, Sefton Boyars, CPA, CGFM, will present for 60 minutes and follow with 30 minutes devoted to individual questions. Participants will learn:

  • When and how the new audit threshold will take effect
  • The new factor that must be taken into account during procurement of audit services
  • What new guidance has surfaced about how recipients and subrecipients design internal controls
  • How procedures will change for differentiating between subrecipients and contractors
  • The required monitoring procedures for pass-through entities
  • The types of disclosures recipients and subrecipients must make to their awarding agencies
  • How steps that auditors must use to determine “major programs” are being altered
  • All about the new “percentage of coverage” rules
  • The likely future of the Single Audit “Compliance Supplement”

Visit for more details and registration information about this program and the full series of webinars dedicated to the new OMB grant reform package, including an upcoming session on indirect costs.

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, published by Atlantic Information Services. 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:

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 to read recent E-Strategies.

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Shelly Beaird-Francois
Atlantic Information Services
+1 (202) 775-9008 Ext: 3064
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