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Management Concepts

Audit of Federal Grants and Assistance Awards

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Next dates

May 9—10
Online
USD 829
Jun 3—4
2 days
Washington, District of Columbia, United States
USD 829
USD 414 per day
Jul 8—9
2 days
Washington, District of Columbia, United States
USD 829
USD 414 per day
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Description

Auditors, funders, and recipients need to understand how well Federal grants are managed and perform. Audits provide a mechanism for monitoring grants, ensuring that recipients meet financial and performance goals, and correct issues. You will build foundational knowledge of the audit process, and examine several audit types, including the Single Audit. You will also examine roles, responsibilities, and relationships of all those involved in audits, as well as a comprehensive view of all parties’ perspectives. This is an elective course in all tracks of the GMCP™.

Learning Objectives

  • Identify audit requirements that impact Federal assistance awards
  • Prepare for a single audit
  • Trace the auditor's steps in conducting a single audit, and locate key information audit reporting packages
  • Review an audit report to identify and resolve findings

Course Topics

Federal Assistance Agreement Audits

  • Audits of Federal Grants, Cooperative Agreements, and Fixed Amount Awards
  • Audit Cognizance/Oversight
  • Audit Requirements and Resources
  • Using the Compliance Supplement

Audit Readiness and Auditor Procurement

  • General Audit Readiness
  • Auditor Procurement
  • Preparing for an Impending Audit

Planning, Conducting, and Reporting on Audits

  • What the Auditor Does During the Single Audit
  • Audit Results, Common Audit Findings, and How to Correct Them
  • Single Audit Reporting Packages and Submission Procedures
  • Governmentwide Audit Database

Review of Audit Reports, Follow Up, and Resolution

  • Federal Agency Review of Audits
  • Performance Audit Reports
  • Audit Resolution

Who should attend

Recipients and subrecipients subject to Federal audit requirements, Federal and pass-through personnel responsible for audit resolution and monitoring recipient compliance with Single Audit requirements, and auditors will benefit from this course.

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