Federal Grants Expert to Review Significant Changes in OMB’s 2015 Compliance Supplement

Share Article

The July 9 webinar from Federal Fund Management Advisor will focus on how to use OMB’s 2015 Compliance Supplement for “audit readiness” — from the point of view of the auditee.

This year’s changes to the Office of Management and Budget’s (OMB) Single Audit Compliance Supplement, which captures what grantees will be tested on, are expected to be significant, stemming from the transition to new administrative requirements and cost principles, and OMB’s objective to concentrate audit resources on higher dollar and higher risk programs. Participants of the July 9 Federal Fund Management Advisor webinar, “OMB’s 2015 Compliance Supplement for Single Audits: How to Use It for Audit Readiness,” will hear advice from federal grants expert Bob Lloyd on how the Supplement can help them be prepared for an audit.

Mr. Lloyd will provide 60 minutes of presentations followed by 30 minutes dedicated to individual questions. Participants will learn:

  • Which key compliance tests have been retained (and which eliminated) and in what ways
  • Where and how key text changes have been made to the cross-cutting requirements in Part 3 of the Supplement
  • What adjustments have been made in the listings for specific programs and clusters of programs
  • How auditors have been instructed to use the Supplement’s guidance on review of internal controls going forward
  • What special advisories and alerts are being published for 2015

Visit http://federalfundmanagement.com/webinars/wg515_070915 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 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: 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.

Share article on social media or email:

View article via:

Pdf Print

Contact Author

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