Washington, DC (PRWEB) May 23, 2014
The feature of OMB’s grant reform that has probably received the most attention is the change in the threshold of federal fund expenditures that will trigger the requirement for conduct of an independent audit under the Single Audit Act of 1984 (as amended). But there are several other changes related to audits that recipients and subrecipients need to understand. As part of a webinar series on implementing OMB’s federal grants reform, the June 5 Federal Fund Management Advisor webinar,“Single Audit Readiness and Survival,” will drill down on all of the changes in the policy document that will replace OMB Circular A-133.
Participants will hear from Bob Lloyd, principal of Federal Fund Management Advisor in 90 minutes of presentation followed by 30 minutes dedicated to individual questions. He will explain:
- 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 http://federalfundmanagement.com/webinars/implementing-reform for more details and registration information about this program and the full series of webinars dedicated to strategies for implementing OMB’s federal grants reform.
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 2 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 recent E-Strategies.