The Sub-Recipient Monitoring Toolkit: IAW Uniform Guidance effective Nov. 12, 2020

Friday, October 14, 2022
Webcast or Webinar, Online
3:00 PM - 4:55 PM (opens at 2:30 PM) EST
2Credits
Accounting and Auditing

Registration is Open

Members
$79.00 Regular Price
Non-Members
$109.00 Regular Price

CPE PowerPass Users

Click the "Apply PowerPass" button to use your PowerPass for the applicable course below.
$36.00 Members / $52.00 Non-Members
Course Type: Webcast
Course Code: 22/AC591758
Level: Basic
Vendor: ACPEN
Field of Study: Accounting (Governmental)

Overview:

Before the Uniform Guidance (UG) was promulgated, guidance for subrecipient monitoring was only known to auditors in Requirement M of the compliance supplement. Sub-recipient monitoring is a critical requirement for Pass-Through-Entities (PTE) to ensure programmatic and financial compliance with a particular Federal program. The UG has devoted only 2 sections to sub-recipient monitoring. Consequently, it is important that this session provides an abundance of practical experience through best practices to fill in some of the gaps.

Objectives:

  • Understanding the difference between sub-awards and contracts.
  • Learning the important role of sub-award agreements to ensure compliance with sub-recipients.
  • Discovering the myriad of PTE responsibilities.
  • Processes to ensure follow up of sub-recipient audit deficiencies with action plans.
  • How municipal governmental units can utilize unit cost rates in lieu of cost reimbursable payments.

Major Topics:

  • Best practices of utilizing a sub-award agreement to limit financial exposure with sub-recipient.
  • Best practice of budgetary control over the financial operation of the subrecipient. Performance-based payments to facilitate improved financial monitoring over sub-recipients.
  • Risk-based monitoring.
  • Revision to the UG impacting sub-recipients and PTEs.

Major Topics:

  • Best practices of utilizing a sub-award agreement to limit financial exposure with sub-recipient.
  • Best practice of budgetary control over the financial operation of the subrecipient. Performance-based payments to facilitate improved financial monitoring over sub-recipients.
  • Risk-based monitoring.
  • Revision to the UG impacting sub-recipients and PTEs.

Designed For:

Public Accountants, Consultants, Government Contractors and Awardees ofFederal Grants and Cooperative Agreements which include: nonprofits,institutes of higher education, hospitals, Federal, state, local and tribal units ofgovernment.

Prerequisties:

None
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The Florida Institute of Certified Public Accountants (FICPA) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: NASBARegistry.org