Thompson Grants a division of CBIS

2016 Resolving Audit Findings In The Uniform Guidance Era: A Briefing for Grant Recipients and Subrecipients

Wednesday, October 05, 2016 • 1:00 pm ET/12:00 pm CT/11:00 am MT/10:00 am PT

Webinar Details

Subject: Grants Management

Prerequisites: None

Recommended Field of Study: Specialized Knowledge and Applications

Program Knowledge Level: Basic

Advanced Preparation: None

Duration: 90 minutes

Location: Your office or conference room, per telephone connection

Course Description:

For both grantors and grantees, the Uniform Grant Guidance significantly changed what you’re required to do if an audit identifies findings.

It’s critical to understand these new responsibilities. It’s equally important to know new approaches that can be used to resolve issues so programs move forward productively, and cost disallowances can be avoided.

Here’s the proactive perspective to do both.

Register now for Resolving Audit Findings in The Uniform Guidance Era: A Briefing for Grant Recipients and Subrecipients.

This 90-minute webinar looks at how the Uniform Grant Guidance has reshaped post-audit responsibilities for both grantors and grantees. Drawing on decades of experience with financial statement and regulatory compliance audits, Jack Reagan—an audit partner in Grant Thornton’s Global Public Sector practice—explains these new responsibilities and new mitigation strategies.

Reduce the risk of disallowed costs. You’ll get fully up to speed on new follow-up responsibilities. Plus, you’ll learn how to apply a proactive approach in resolving issues to help reduce the chance that findings will result in disallowed costs. You’ll also have the chance to ask your own questions during the Q&A portion of the webinar.

Reserve your space now for expert guidance on the audit-finding follow up responsibilities of both grantors and grantees, including:

  • Uniform Guidance required elements of an audit finding
  • What grantors must do to follow up on—and resolve—audit findings
  • What actions grantees must take upon receiving audit findings
  • Proactive strategies for mitigating and resolving audit findings

Remember, audit findings don’t have to lead to disallowed costs. Take this opportunity to learn how a proactive approach can make all the difference in resolving issues and reducing risks.

Register now for Resolving Audit Findings in The Uniform Guidance Era: A Briefing for Grant Recipients and Subrecipients.

Who Will Benefit

This webinar is of value to every recipient of federal awards—including state, local and tribal governments; higher education institutions; and nonprofits—and especially those with a history of findings. Attendees who will benefit most include:

  • Grants managers and administrators
  • CFOs/controllers, accounting and finance staff
  • General/In-house Counsel
  • Internal auditors
  • Independent auditors
  • Program managers
  • Compliance officers

Jack Reagan

Jack Reagan is an audit partner in Grant Thornton's Global Public Sector practice. Mr. Reagan has more than 28 years of dedicated industry experience working within the federal government, state and local government, health care, not-for-profit, and higher education sectors. Prior to joining Grant Thorton, he was a partner in the Public Sector Practice at CliftonLarsonAllen LLP for almost 2 years and in the Public Sector Audit practice at KPMG LLP for over 20 years. He has extensive experience performing financial statement and regulatory compliance audits, as well as a variety of advisory services projects. Mr. Reagan also spent 2 years in the national Department of Professional Practice at KPMG LLP, where he attended monthly GASB meetings and provided accounting and auditing guidance to engagement teams whose clients were required to follow GASB. Mr. Reagan has participated in numerous GASB and AICPA publications, and he is a widely sought after speaker on GASB and single audit issues.

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Finally! A practical guide to grants management.

Get practical grants management guidance that blends age-old conventional wisdom
with the historic changes in OMB’s uniform guidance:
Add A Practical Guide to Federal Grants Management -
From Solicitation Through Audit, 2nd Edition
to your order!

This comprehensive resource blends age-old conventional wisdom with the historic changes in OMB’s uniform guidance. You'll benefit from the advice of experts on time and effort reporting, procurement under grants, direct charging certain costs, single audit preparations, subrecipient monitoring and much more. The 500+ page softbound book is a valuable management guide, compliance document and training tool for busy grants managers, program directors, financial officers and auditors at nonprofit organizations, educational institutions, and state and local governments.

This valuable resource will help you and your grants management team:

  • Understand the differences between direct and indirect costs
  • Make the subrecipient vs. contractor determination
  • Realize the full impact of OMB’s emphasis on internal controls
  • Understand which familiar elements of time and effort reporting have been retained in the uniform guidance ... and which are new
  • Know the nuances of requirements for subrecipient assessment and monitoring
  • Understand contract clauses in agreements for procurement under grants
  • Apply the general tests of allowability
  • Understand special issues confronting pass-through entities contracting with foreign organizations
  • Know which clauses flow down when crafting a subaward
  • Understand what is meant by a 10% de minimis indirect cost rate
  • Audit the vulnerabilities in your grants management operation
  • Understand what is meant by audit "resolution"
    ...and much more