Washington, DC (PRWEB) May 11, 2015
The Office of Management and Budget (OMB) has substantially overhauled Circular A-133 in its recent federal grants management reform, starting with an increase in the dollar threshold that triggers a single audit. And, they’ve renamed it “Subpart F of 2 CFR 200.” The new directive takes effect for recipient and subrecipient fiscal years that begin after Dec. 26, 2014. That probably means that many organizations will be moving into their first affected fiscal year over the next few months.“Making the Single Audit Transition — Moving from Circular A-133 to 'Subpart F',” a May 20 reprise of Federal Fund Management Advisor’s popular January webinar, will help organizations understand the new policies and how to smoothly transition to them.
In 60 minutes of presentation followed by 30 minutes devoted to individual questions, Federal Fund Management Advisor Principal Bob Lloyd will provide answers to these, and many other, questions:
- What’s the new audit threshold and how does it kick in?
- What parts of old Circular A-133 might still be relevant?
- How should requests for proposals for audit services be modified?
- What features should audit contracts contain?
- How have auditor instructions for conducting risk assessments changed?
- What new steps will auditors take in determining major programs for testing?
- What’s the future of the OMB Compliance Supplement and how will it impact awardees?
- Who will now qualify as a low-risk auditee and what difference does it make?
- What effect will the threshold change have on subrecipient monitoring?
- In what ways should single audit reports change?
- Who continues to receive copies of audit reporting packages?
- What role will single audit history play in future funding decisions?
Visit http://federalfundmanagement.com/webinars/wg512_052015 for more details and registration information.
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 A Guide to OMB Grant Reform and several other 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: http://www.learningmarket.org.
About Federal Fund Management Advisor
Federal Fund Management Advisor provides recipients and subrecipients of federal funds with accurate, responsible and practical advice concerning the acquisition, administration and oversight of federal grants, cooperative agreements and contracts. Through management, compliance and best practices webinars, and a wide variety of technical assistance capabilities, this advisory service can help organizations navigate effectively in today’s highly charged federal fund accountability atmosphere. Visit http://www.federalfundmanagement.com.