Federal Fund Management Advisor Webinar Will Identify Changes in OMB’s Guidance That Could Create Problems for Single Audits

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Federal Fund Management Advisor principal Bob Lloyd will analyze OMB’s new administrative and cost guidance policies, and offer management steps federal grant awardees can take now to avoid problems later, in an Oct. 1 webinar.

The new requirements in the Office of Management and Budget’s (OMB) “super circular” have created a whole new set of audit vulnerabilities to go along with some of the old ones that remain from the old Circular A-133. Federal grant awardees need to know what to expect when the fiscal year ends and independent auditors begin field work and transaction testing. “Your Single Audit Vulnerabilities — An OMB Grant Reform Update,” an Oct. 1 webinar from Federal Fund Management Advisor will help participants anticipate and prepare for audit inquiries by analyzing the myriad new policies and suggesting management steps to take now in order to avoid problems later.

In an hour-long presentation, followed by a 30-minute Q&A session, Federal Fund Management Advisor principal Bob Lloyd will answer these — and many other — questions:

  • How has the implementation schedule for the “super circular” created vulnerabilities?
  • What are the new documentation challenges?
  • In what ways have prior approval requirements changed?
  • What new procedural tripwires have been installed? Which have been removed?
  • Which cost allowability standards have been tightened?
  • How can negotiated “advance understandings” reduce vulnerabilities?
  • What preventive internal controls can mitigate noncompliance exposure?

Visit http://federalfundmanagement.com/webinars/wg520_100115 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.

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Shelly Beaird-Francois
Atlantic Information Services
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