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BETHESDA, MD (June 15, 2015)Thompson Information Services, the leading publisher in federal grant compliance information, today released the 4th edition of the Techniques for Monitoring Federal Subawards.

In its first revision since 2010, the 4th edition incorporates new requirements contained in the Office of Management’s uniform grant guidance. The uniform guidance, effective on Dec. 26, 2014 for nonfederal entities, altered many of the rules governing the management of federal grants programs, including the expectations of how prime grant recipients oversee subrecipients and contractors.

Updated by Thompson’s team of in-house experts, Techniques for Monitoring Federal Subawards:

• Clears up confusion by describing the new roles and responsibilities of both the pass-through entity and the subrecipient as well as the differences between a subrecipient and a contractor.
• Guides subaward creation by outlining the key components, including the data elements required for a subaward agreement, regulatory and program requirements, the scope of work and budget, and administrative requirements, cost principles and audit requirements, all aligned with the provisions of the uniform guidance.
• Presents a variety of monitoring options, including: factors pass-through entities should consider before selecting a monitoring activity; the various tools available, including single audits or program-specific audits where applicable, agreed-upon procedures, onsite visits and desk reviews; and tips about choosing the most effective strategies.
• Lays out the revamped steps for audit follow up, including the new requirement that risk assessments under the uniform guidance and the need to tie financial data to program activities to satisfy new reporting requirements.
• Keeps pass-throughs one step ahead of auditors by reviewing the aspects of monitoring procedures that auditors will test, identifying the types of findings auditors might report and offering descriptions of best practices to avoid findings.
• Offers templates that pass-throughs need to properly monitor subrecipients that can serve as a toolkit for pre-award, post-award and audit requirements as well as revised boilerplate subaward and contract agreements, including new fixed-amount awards.
• Prepares grant managers for future changes on the horizon, including the DATA Act.

“Our 4th edition is a much anticipated revision of one of our most trusted and requested products,” said Karen Norris, managing editor of Thompson’s grants compliance division. “We believe this book offers a quick start down the right path by highlighting changes in the uniform guidance and providing handy templates for risk assessments, engagement letters, audit checklists, boiler-plate agreements and so much more.”

Techniques for Monitoring Federal Subawards is available in print as well as part of Thompson’s grants-focused digital research libraries.

About Thompson Information Services, a division of Columbia Books & Information Services
Since 1972, thousands of professionals in business, government, law and academia have relied on Thompson Information Services for the most authoritative, timely and practical guidance available. Throughout the years, these professionals have come to rely on Thompson for help complying with the ever-changing regulatory mandates facing their organizations in a variety of areas. These areas include: Human resources; Retirement plans and employee benefits; Grants development and management; Food & Drug; Environment, Energy and Health Care.
 

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