The Office of Management and Budget finally found the time to release their annual Compliance Supplement, the single audit tool that independent auditors must use to identify grants management requirements to be tested and to consider what procedures they’ll employ to determine whether those requirements have been followed.
While the Supplement is really a massive audit guide whose primary audience is independent auditors, it is just as much a single audit readiness tool for grant recipients and subrecipients that shouldn’t be overlooked. The delay has set back single audit performance schedules across the country.
But the Supplement is not the only recent policy development affecting your upcoming single audit. Therefore, Federal Fund Management Advisor has developed a webinar that will cover:
- How to unpack the 2025 Compliance Supplement from an auditee perspective and identify compliance and control vulnerabilities that should be addressed to avoid findings.
- Revisions to the “Yellow Book” — the Government Accountability Office audit standards — that are kicking in in the coming months containing requirements for audit quality management.
- Implementation of the Financial Management Risk Reduction Act (PL 118-207) which requires a closer look at the appropriate level of audit coverage for organizations expending lesser amounts of federal funding.
- Continuing tailored oversight of recipients of funds under the Coronavirus State and Local Fiscal Recovery Fund that were required to obligate the money by the end of 2024 and to make final disbursements by the end of 2026.
YOUR EXPERT:
Bob Lloyd
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 nearly 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 sixteen 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 A Guide to OMB Grant Reform and several other reference works on federal grants management and audits, and currently serves as contributing editor to Federal Grants News, published by Thompson Grants. He also is a Charter Life Member of the National Grants Management Association and served on its Board of Directors for five years. Contact Bob Lloyd at consultlloyd@aol.com or 864-235-8680.
Delivery Method: Group Live
Program Knowledge Level Policy:
The sponsor assures that the program content and program level is appropriate for the intended participants. The knowledge level of the course must be specified so that participants can determine if the program is appropriate for their development needs. Knowledge levels consist of: basic, intermediate, advanced, overview and update. All programs must clearly identify prerequisite education, experience and advanced preparation. A course knowledge level of intermediate, advanced or update inherently has an education or experience prerequisite, which should be included in the program descriptive materials. CPE Standard Reference: Standard 2 and 3.
Refund Policy:
If you are not able to attend for any reason, please notify us as soon as possible. Cancellations received 24 hours prior to the start time of the audio conference are fully refundable. After that, cancellations are subject to a $25 processing fee. If you prefer, you may substitute an upcoming audio conference for the one you originally registered for and avoid the $25 processing fee. All refunds resulting from cancellations will be issued within 72 hours.
Complaint Resolution Policy:
Participants are encouraged to submit complaints as soon as possible to ensure timely resolution. Complaints must include the participant's name, program name, date of the program, and a clear description of the issue. Complaints can be submitted through the following methods:
- Email: afaye@columbiabooks.com
- Phone: 1-800-677-3789
- Mail: Thompson Grants, a division of CBIS, 1500 Wilson Boulevard, Suite 920, Arlington, VA 22209
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