Available dates

Dec 11—12, 2019
2 days
Albuquerque, New Mexico, United States
USD 849
USD 424 per day
Dec 18—19, 2019
2 days
Washington, District of Columbia, United States
USD 849
USD 424 per day
Jan 21—22, 2020
2 days
Washington, District of Columbia, United States
USD 849
USD 424 per day
+3 more options


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About the course

Internal controls are integral to effective grants management. In order to conduct effective internal controls, grants managers need a foundational knowledge of Government Accountability Office (GAO) standards, risk management, and requirements outlined in 2 CFR 200. You will practice applying these concepts by reviewing sample policies for compliance and developing an internal control process to use on the job. This is an elective course in all tracks of the GMCP™.

Learning Objectives

  • Describe the need for grantor and recipient internal controls
  • Discuss what is necessary to remain in compliance with internal control standards, laws, and regulations
  • List the governing authorities that apply to internal controls and how they apply to the overall internal control process
  • Discuss risk in the federal government and the roles of risk assessment and risk management
  • Develop internal control policies and procedures for your organization that will meet internal control requirements, including 2 Code of Federal Regulations (CFR) 200 and program- and award-specific requirements
  • Communicate controls to stakeholders
  • Explain how internal controls are tested in an internal control review (ICR)

Course Topics

Understanding Internal Controls

  • What Are Internal Controls?
  • Why Internal Controls Are Important
  • The Fundamental Components of Internal Controls
  • Internal Controls as an Integral Part of Grants Management

COSO and GAO Internal Control Standards

  • COSO Report and GAO Green Book: Authority and Applicability
  • The GAO Standards
  • Applying the GAO Standards
  • Using GAO Guidance

Legal Requirements and the Internal Control Process

  • Internal Control Mandates
  • The Internal Control Requirements of the Integrity Act
  • Requirements for Internal Controls at Non-Federal Entities
  • How Internal Control Is Assessed

Risk Assessment

  • Risk
  • Criteria for Federal Grant Program Risk
  • The Relationship between Risk and Internal Control
  • The Three Major Types of Risk
  • Risk Management
  • Module Capstone: Internal Control Stakeholders at Your Organization
  • Module Capstone: Analyzing a Grant Program to Identify Risks

Ensuring Policies & Procedures Meet Internal Control Requirements

  • Implementing an Internal Control Program in Your Organization
  • Internal Controls for Financial Systems
  • Internal Controls for Procurement Systems
  • Internal Controls for Subrecipient Monitoring
  • Internal Controls for Property Management Systems
  • Internal Controls for Travel Systems
  • Module Capstone: Developing Internal Controls

Communicating Controls to Stakeholders

  • Importance of Communicating with Stakeholders
  • Module Capstone: Corresponding with Stakeholders

Conducting an Internal Control Review

  • Conduct Internal Control Reviews
  • The Major Steps in an ICR
  • Testing Controls and Process
  • Module Capstone: Reviewing Sample Internal Controls

Who should attend

Grants managers seeking to improve their organization’s internal controls will benefit from this course.

Course reviews