Audit of Federal Grants and Cooperative Agreements
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Classes &
Locations
Seattle, WA
Course Details
- PRICE:
$710.00
- LENGTH:
2 days
- FORMAT:
Lecture, discussion, hands-on practical exercises, and case studies.
- LEVEL:
Intermediate
- FIELD OF STUDY:
Auditing (Governmental)
- CPE CREDITS:
16
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This course is designed for recipients, pass-through entities, and subrecipients subject to federal audit requirements; federal personnel responsible for audit report review or resolution; and auditors. Students gain an indepth understanding of the audit requirements for federal grants, with a focus on the OMB Circular A-133 audit process from preparing for an audit and hiring an auditor through audit resolution.
Course Objectives: Students will: Review OMB Circular A-133 audit requirements · Trace the auditor’s steps in conducting an audit · Use A-133 criteria to evaluate the adequacy of an audit reporting package · Locate key information in a sample audit reporting package · Review sample findings and questioned costs
Major Topics:
Overview
- Grant audits: the players, their authority, and their roles
- Audit requirements and guidance: OMB Circular A-133, the Compliance Supplement, and the GAO Yellow Book
Audit Readiness
- Being prepared for an audit
- Common audit findings
Procuring the Services of an Auditor
Planning and Conducting the Audit
- What the auditor does
- Determining major programs
- Assessing program risk
- Internal controls and compliance testing
- Audit results and findings
- Monitoring the auditor’s performance
Single Audit Reporting
- Reporting package contents and submission procedures
- Federal Audit Clearinghouse database
Audit Followup and Resolution
Recent Developments and Future Trends
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