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21WA-3700: The Sub-Recipient Monitoring Toolkit: IAW Uniform Guidance effective Nov. 12, 2020 (Webinar)

Date Saturday, December 18, 2021
Time 1:00pm - 2:55pm
Central Time
Location Online
CPE credits CPE 2.0
Field(s)
of study
Accounting (Governmental) - Technical (2.0)
Fees
Standard Member Fee $79.00
Standard Nonmember Fee $79.00
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Description

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.

Who should take this program?

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

Major subjects

  • 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.

Learning objective(s)

  • 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.

Notes:

Course code Code 21WA-3700
Sponsor Business Professionals' Network, Inc.
NASBA ID#: 107810
Level Basic
Format Group Internet Based
Prerequisites Prereq. None
Advance
prep
None
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