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

Thursday, October 14, 2021
Webcast or Webinar, Online
10:00AM - 11:55AM (opens at 9:30 AM) EST
2Credits
Accounting and Auditing

Registration is Closed

Online registration for this course is now closed. Please contact the Member Service Center at (800) 342-3197 if you wish to inquire about registering.

Members
$79.00 Regular Price
Non-Members
$109.00 Regular Price
Course Type: Webcast
Course Code: 21/AC209636
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.

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.

Prerequisite:

None