Washington, DC (PRWEB) May 17, 2013
In new proposed guidance, the Office of Management and Budget (OMB) says, “When procuring audit services, the objective should be to obtain high quality audits.” Approaching audit procurement systematically is the best way to ensure a balanced independent audit that will meet required standards. The upcoming May 29 webinar from Federal Fund Management Advisor, “Procurement of Your Annual Single Audit — How to Make One of Your Most Important Federal Grant Purchases,” will provide guidance on selecting auditors who will conduct audits to meet the requirements of the Single Audit Act.
The webinar will answer these questions and more:
- What are the basic requirements for procurement of services by grantees?
- How are those requirements modified in the case of audit services?
- How do organizations plan and articulate the scope of a single audit?
- What audit standards and requirements apply?
- How can competition be generated?
- What factors should influence use of multi-year audit contracts and auditor rotation options?
- What features should be included in a Request for Proposal (RFP)?
- What evaluation criteria should be employed?
- Who should be involved in the selection decision?
- What provisions should the audit contract include?
- How should liaison with the auditors and monitoring of performance be handled?
- How does the cost of the audit get charged to federal programs?
Visit http://federalfundmanagement.com/webinars/wg312_052913 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.”