CONTINUING EDUCATION FOR TAX & FINANCIAL PROFESSIONALS

Subrecipient Monitoring

Icon_Self-Study
Self-Study
Icon_Level
Basic
Credits
CPE Credits
4 Credits: Auditing (Governmental)

Course Description

Grant money comes with plenty of strings attached! One string involves subrecipient monitoring. If your auditee receives grant monies but then passes some or all of the money on to other organizations (called subrecipients) the auditee still has an obligation to make sure that the money is being used as intended.

Federal grant regulations have always required grantees that make subawards to monitor subrecipients. However, when the Office of Management and Budget issued the Uniform Guidance, they strongly emphasized the need for subrecipient monitoring and added a few important requirements.

This text is intended help you understand subrecipient monitoring requirements and provide tools and techniques to help you meet your obligations to the grantor.

Learning Objectives

Upon successful completion of this course, participants will be able to:

  • Identify the regulations that apply to subrecipient monitoring by pass-through entities included in the Uniform Administrative Requirements applicable to state and local governments and nonprofit organizations
  • Identify key government regulators and their function
  • Recognize the UGG requirements for conducting risk assessments of subrecipients
  • Identify the requirements for monitoring subrecipients
  • Cite additional considerations when conducting risk assessments of subrecipients
  • Distinguish between inherent risk, control risk and detection risk
  • Recall the elements of the fraud triangle
  • Recognize the elements of a three-tier monitoring plan
  • Identify the need for documentation of monitoring
  • Cite when the grantor organization needs to be informed about subrecipient issues
  • Identify the elements in reviewing a subrecipient’s Single Audit Report
  • Identify the factors to consider when resolving the findings in a subrecipient’s Single Audit Report
  • Recall the components of an internal control system
  • Recognize tools and guides provided by the AGA for monitoring subrecipients

Course Specifics

Course ID
5216015
Revision Date
July 22, 2021
Number of Pages
40
Prerequisites

There are no prerequisites.

Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220

Course Instructor

William T. Allen

Originally from the San Francisco Bay Area, Bill has 30 years of federal audit and contract monitoring and administration experience.  He served as the U.S. Department of Education’s Regional Inspector General for Audit for Regions VII, VIII, and X.  Mr. Allen also served as Region IX’s Assistant Regional Inspector General for Audit.  In these capacities, he managed the planning, performing, and reporting for performance and compliance audits of public and private (nonprofit and for-profit) educational and health-related organizations.  He also negotiated reimbursement contracts, and overhead expense for Medicare Providers and Intermediary organizations [Insurance organizations]. He has led a peer review …

William T. Allen Read More »

Sefton Boyars

Until his retirement in October 1996, Sefton Boyars was the Department of Education’s Regional Inspector General for Audit in Regions IX and X. During his 35- year career, Sefton worked for a variety of federal and local government audit agencies. He is a member of the California CPA Society and was a long-time chair of his chapter’s combined committee on Accounting Principles and Auditing Standards and Government Accounting and Auditing. Sefton is a Certified Public Accountant, a Certified Government Financial Manager, a Certified Fraud Specialist, and a Certified Internal Auditor. He is a past chair of the Western Intergovernmental Audit …

Sefton Boyars Read More »

Subrecipient Monitoring

Expert Instructors
Format
CPE CREDITS
4 Credits: Auditing (Governmental)

$116.00$136.00

Clear
Icon_Self-Study
Self-Study
Icon_Level
Basic
Credits
CPE Credits
4 Credits: Auditing (Governmental)

Course Description

Grant money comes with plenty of strings attached! One string involves subrecipient monitoring. If your auditee receives grant monies but then passes some or all of the money on to other organizations (called subrecipients) the auditee still has an obligation to make sure that the money is being used as intended.

Federal grant regulations have always required grantees that make subawards to monitor subrecipients. However, when the Office of Management and Budget issued the Uniform Guidance, they strongly emphasized the need for subrecipient monitoring and added a few important requirements.

This text is intended help you understand subrecipient monitoring requirements and provide tools and techniques to help you meet your obligations to the grantor.

Learning Objectives

Upon successful completion of this course, participants will be able to:

  • Identify the regulations that apply to subrecipient monitoring by pass-through entities included in the Uniform Administrative Requirements applicable to state and local governments and nonprofit organizations
  • Identify key government regulators and their function
  • Recognize the UGG requirements for conducting risk assessments of subrecipients
  • Identify the requirements for monitoring subrecipients
  • Cite additional considerations when conducting risk assessments of subrecipients
  • Distinguish between inherent risk, control risk and detection risk
  • Recall the elements of the fraud triangle
  • Recognize the elements of a three-tier monitoring plan
  • Identify the need for documentation of monitoring
  • Cite when the grantor organization needs to be informed about subrecipient issues
  • Identify the elements in reviewing a subrecipient’s Single Audit Report
  • Identify the factors to consider when resolving the findings in a subrecipient’s Single Audit Report
  • Recall the components of an internal control system
  • Recognize tools and guides provided by the AGA for monitoring subrecipients

Course Specifics

Course ID
5216015
Revision Date
July 22, 2021
Number of Pages
40
Prerequisites

There are no prerequisites.

Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220

Course Instructor

William T. Allen

Originally from the San Francisco Bay Area, Bill has 30 years of federal audit and contract monitoring and administration experience.  He served as the U.S. Department of Education’s Regional Inspector General for Audit for Regions VII, VIII, and X.  Mr. Allen also served as Region IX’s Assistant Regional Inspector General for Audit.  In these capacities, he managed the planning, performing, and reporting for performance and compliance audits of public and private (nonprofit and for-profit) educational and health-related organizations.  He also negotiated reimbursement contracts, and overhead expense for Medicare Providers and Intermediary organizations [Insurance organizations]. He has led a peer review …

William T. Allen Read More »

Sefton Boyars

Until his retirement in October 1996, Sefton Boyars was the Department of Education’s Regional Inspector General for Audit in Regions IX and X. During his 35- year career, Sefton worked for a variety of federal and local government audit agencies. He is a member of the California CPA Society and was a long-time chair of his chapter’s combined committee on Accounting Principles and Auditing Standards and Government Accounting and Auditing. Sefton is a Certified Public Accountant, a Certified Government Financial Manager, a Certified Fraud Specialist, and a Certified Internal Auditor. He is a past chair of the Western Intergovernmental Audit …

Sefton Boyars Read More »

Subrecipient Monitoring

Expert Instructors
Format
CPE CREDITS
4 Credits: Auditing (Governmental)

$116.00$136.00

Clear