The document summarizes changes to the Office of Management and Budget's (OMB) Compliance Supplement, which provides guidance for auditors conducting single audits of federal awards given to non-federal entities under the Single Audit Act. Key changes include removing some compliance requirements no longer applicable due to the end of Recovery Act funding, modifying the procurement requirement, and revising reporting guidance regarding the Federal Funding Accountability and Transparency Act. Programmatic changes for Education Department programs incorporate new flexibilities provided under ESEA waivers. Upcoming proposed changes in OMB's Super Circular are also discussed.
The document discusses several of the Department of Labor's national enforcement projects and regional enforcement projects for FY 2016. The national projects focus on areas like contributory plans, health benefits, ESOPs, and prohibited persons. The regional project for New York focuses on alternative investments and valuations. The document also summarizes an interpretive bulletin on economically targeted investments and fiduciary duties when considering non-economic factors.
Understanding the A133 Proposed Rule Changes for NonprofitsBeckandCompany
This document summarizes proposed changes to regulations governing federal grants and awards to nonprofit organizations under the Office of Management and Budget's Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Some key proposed changes include increasing the single audit threshold, streamlining compliance requirements subject to audit testing, extending the period for negotiated indirect cost rates, and consolidating guidance into fewer documents. The presentation provides background on the proposed changes and recommends steps organizations can take to prepare for the updated regulations.
The Center for Medicare & Medicaid Innovation (CMS Innovation Center) hosted an open door forum covering participating provider lists for the 2017 Next Generation Accountable Care Organization Model. The open door forum was held on Tuesday, April 12 from 4:00pm – 5:30pm EDT.
- - -
CMS Innovation Center
http://innovation.cms.gov
We accept comments in the spirit of our comment policy:
http://newmedia.hhs.gov/standards/comment_policy.html
CMS Privacy Policy
http://cms.gov/About-CMS/Agency-Information/Aboutwebsite/Privacy-Policy.html
Web presentation 10162014 understanding your actuariesCarol Buckmann
This document discusses the role of enrolled actuaries in pension funding. It provides an overview of key terms and requirements related to pension funding standards under the Internal Revenue Code and Pension Protection Act. Specifically, it outlines the responsibilities of enrolled actuaries in certifying minimum funding requirements, funded status, and actuarial assumptions. It also reviews standards of practice that enrolled actuaries must follow regarding actuarial cost methods, economic assumptions, and demographic assumptions.
The OMB has put out new direction on how those organizations receiving federal grants handle reporting. Smith & Gesteland presented a seminar explaining the basics of what has been referred to as The Super Circular.
State and Local Tax Issues Facing the Real Estate and Construction IndustrySkoda Minotti
Join Mary Jo Dolson, Amy Gibson and Mark Thomas of Skoda Minotti’s State and Local Tax team for an informative discussion on state and local tax issues facing the real estate and construction industry.
This webinar provided a 401(k) and pension plan accounting and auditing update for plan sponsors, including management, accountants, and Human Resource professionals. In addition, the presentation provided an update on recent Employee Retirement Income Security Act (ERISA) criminal cases, the outcomes of those cases, and the prosecution.
Small Business Administration Preliminary Regulatory Reform PlanObama White House
When President Obama unveiled his plan to create a 21st-century regulatory system that protects the health and safety of Americans in a cost-effective way, he called for an unprecedented government-wide review of rules already on the books. As a result of that review, the Small Business Administration has identified initiatives to reduce burdens and save money. Read the agency plan and share your comments, feedback and questions.
Visit WhiteHouse.gov/RegulatoryReform to view all the plans and learn more.
The document discusses several of the Department of Labor's national enforcement projects and regional enforcement projects for FY 2016. The national projects focus on areas like contributory plans, health benefits, ESOPs, and prohibited persons. The regional project for New York focuses on alternative investments and valuations. The document also summarizes an interpretive bulletin on economically targeted investments and fiduciary duties when considering non-economic factors.
Understanding the A133 Proposed Rule Changes for NonprofitsBeckandCompany
This document summarizes proposed changes to regulations governing federal grants and awards to nonprofit organizations under the Office of Management and Budget's Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Some key proposed changes include increasing the single audit threshold, streamlining compliance requirements subject to audit testing, extending the period for negotiated indirect cost rates, and consolidating guidance into fewer documents. The presentation provides background on the proposed changes and recommends steps organizations can take to prepare for the updated regulations.
The Center for Medicare & Medicaid Innovation (CMS Innovation Center) hosted an open door forum covering participating provider lists for the 2017 Next Generation Accountable Care Organization Model. The open door forum was held on Tuesday, April 12 from 4:00pm – 5:30pm EDT.
- - -
CMS Innovation Center
http://innovation.cms.gov
We accept comments in the spirit of our comment policy:
http://newmedia.hhs.gov/standards/comment_policy.html
CMS Privacy Policy
http://cms.gov/About-CMS/Agency-Information/Aboutwebsite/Privacy-Policy.html
Web presentation 10162014 understanding your actuariesCarol Buckmann
This document discusses the role of enrolled actuaries in pension funding. It provides an overview of key terms and requirements related to pension funding standards under the Internal Revenue Code and Pension Protection Act. Specifically, it outlines the responsibilities of enrolled actuaries in certifying minimum funding requirements, funded status, and actuarial assumptions. It also reviews standards of practice that enrolled actuaries must follow regarding actuarial cost methods, economic assumptions, and demographic assumptions.
The OMB has put out new direction on how those organizations receiving federal grants handle reporting. Smith & Gesteland presented a seminar explaining the basics of what has been referred to as The Super Circular.
State and Local Tax Issues Facing the Real Estate and Construction IndustrySkoda Minotti
Join Mary Jo Dolson, Amy Gibson and Mark Thomas of Skoda Minotti’s State and Local Tax team for an informative discussion on state and local tax issues facing the real estate and construction industry.
This webinar provided a 401(k) and pension plan accounting and auditing update for plan sponsors, including management, accountants, and Human Resource professionals. In addition, the presentation provided an update on recent Employee Retirement Income Security Act (ERISA) criminal cases, the outcomes of those cases, and the prosecution.
Small Business Administration Preliminary Regulatory Reform PlanObama White House
When President Obama unveiled his plan to create a 21st-century regulatory system that protects the health and safety of Americans in a cost-effective way, he called for an unprecedented government-wide review of rules already on the books. As a result of that review, the Small Business Administration has identified initiatives to reduce burdens and save money. Read the agency plan and share your comments, feedback and questions.
Visit WhiteHouse.gov/RegulatoryReform to view all the plans and learn more.
1. The document contains a quiz on auditing governments and not-for-profit organizations from ACC 410 Week 10. It includes true/false questions, multiple choice questions, and essay questions on topics like the Single Audit Act, Government Auditing Standards, and compliance requirements for federal award recipients.
2. Key standards and laws discussed include the Yellow Book, Government Auditing Standards, Single Audit Act, and Sarbanes-Oxley Act. The quiz questions cover requirements for single audits, auditor qualifications, and assessing compliance in performance audits.
3. Performance audits conducted on government programs focus on evaluating efficiency, effectiveness, and if the program is achieving desired results. The document is a practice quiz to
ASPA Presentation - Performance Budgeting at the State Level (3-2014)John Kamensky
Most State Governments Use Performance Budgeting (or Budgeting for Results). A Team of Researchers from American University Assess Progress and Provide Case Examples at a Panel at the annual national conference of the American Society for Public Administration, March 2014, in Washington, DC.
Sound governance and effective institutions are essential to achieve shared prosperity and sustained reductions in poverty.
Public accountability and proper governance contribute to better delivery of public services, support competition and growth, including through cooperation with private sector.
Quality information helps the government properly analyze risks and play their essential roles in resolving the complex and interconnected challenges in variety of sectors, including in health, social protection and education.
Key Areas to Consider Regarding Grant ComplianceCBIZ, Inc.
Wilfredo Corps presented on key areas of grant compliance including classifying costs as direct or indirect, properly allocating and documenting staff time, strategies for determining unit costs, and new developments that may impact future grants administration. Some new developments proposed by OMB include focusing audit efforts on higher-risk awards, streamlining compliance requirements, strengthening audit follow-up processes, and reforming cost principles.
The Massachusetts School Building Authority (MSBA) effectively manages a school construction and renovation grant program. It has paid over $6.6 billion to complete 1,156 projects from a prior program and uses a collaborative process for new projects that emphasizes planning, budgeting, and prioritizing limited resources. The MSBA is funded by 1 cent of the statewide sales tax, but growing budget constraints require curtailing future funding to match available resources of around $2.5 billion over the next few years.
Session Six: Performance Budgeting For Sub National Entities, China, Meeting ...OECDtax
The document discusses performance budgeting at the sub-national level in the United States. It provides context on the fiscal relationship between federal, state, and local governments. States have significant autonomy but the federal government provides grants that comprise about a third of state spending and often have accountability requirements. The framework for performance budgeting and management at the federal level was established by the GPRA Modernization Act of 2010. Some unique challenges for performance budgeting at the sub-national level include the diversity of local governments and balancing compliance and innovation when relying on funding from multiple levels of government.
The Accountable Health Communities Model team hosted a webinar to provide an overview of the new funding opportunity and application requirements for Track 1 on Wednesday, September 14, 2016 from 2:00p.m. – 3:00p.m. EDT.
- - -
CMS Innovation Center
http://innovation.cms.gov
We accept comments in the spirit of our comment policy:
http://newmedia.hhs.gov/standards/comment_policy.html
CMS Privacy Policy
http://cms.gov/About-CMS/Agency-Information/Aboutwebsite/Privacy-Policy.html
The document discusses the changing dynamics of public budgeting processes at the national, state, and local levels. It outlines several reforms to budgeting over time, including the 1921 Budget and Accounting Act, the Congressional Budget and Impoundment Control Act of 1974, and deficit control acts of 1986 and 1990. While reforms aim to better allocate resources and improve financial management, they also face weaknesses such as fiscal stress, revenue uncertainty, and erosion of accountability due to complexity. Overall, the budget process remains challenging due to issues like novelty, annual perspectives, and forecasting problems in changing environments.
The document provides an overview and summary of several accounting standards updates (ASUs) issued by the FASB in 2014 that are relevant for private companies and other entities. It discusses the ASUs on simplifying goodwill accounting, interest rate swap accounting, applying variable interest entity guidance to common control leasing arrangements, and other topics. The ASUs aim to reduce costs and complexity for private companies while still providing useful information to financial statement users. The document outlines the objectives, who is affected, key provisions, differences from previous guidance, and effective dates of each ASU.
This document summarizes Stanford University's budget process and financial information systems. It outlines Stanford's financial overview, budget management approach, how the role of the budget has evolved over time, the financial information systems used including Hyperion Planning, and goals for the future such as improving variance analysis and forecasting using Hyperion.
The document provides information about an IRS audit of an employer's retirement plan. It discusses what areas the IRS may audit, including plan documentation, qualification requirements, prohibited transactions, plan operations, assets, taxes, and reporting. It also notes that the audit process for large plans with over 2,500 participants (EPTA cases) involves more pre-audit analysis, use of specialists, and requests for electronic data. The document compares the Self-Correction Program (SCP), Voluntary Correction Program (VCP), and Compliance Assistance Program (CAP) that employers can use to correct retirement plan failures.
The document discusses federal grant regulations including allowable and unallowable expenses, OMB circulars on grants management, cost principles, sub-recipient monitoring, and what an Inspector General auditor examines when reviewing grants. It also covers financial management systems required under OMB Circular A-110 including procurement standards, record keeping, and sub-recipient monitoring.
Dynamic Changes Occurring: OMB's Uniform Grant GuidanceStreamLinkSoftware
At this year’s National Association of State Auditors, Comptrollers and Treasurers (NASACT) Annual Conference in Chicago, Illinois, StreamLink Software CEO, Adam Roth, and partner at accounting firm Plante Moran, Michelle Watterworth, presented on UGG’s impact on grant administration and audits.
This document provides an agenda and overview of a presentation on the impact of the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (also known as the Supercircular or 2 CFR 200). The presentation covers introductions, an overview of merit review requirements, cost principles, prior approval requirements, and a question and answer session. Key changes introduced in 2 CFR 200 include new conflict of interest policies, mandatory disclosures, low-risk recipient standards, expanded federal agency authority for certifications, changes to time and effort reporting and allowability of costs, new merit review requirements, rules around cost sharing and indirect costs, and other administrative updates.
This presentation covers the basics of federal grant accounting and compliance (and why you need to know it), state and local tax and corporate tax issues (even if you're not generating revenue), R&D credits, and more for biotech companies.
The CMS Innovation Center held the second in a series of webinars on Wednesday, July 6, 2016 for the Support and Alignment Networks under the Transforming Clinical Practice Initiative (TCPI). This webinar focused on providing information regarding the application process.
- - -
CMS Innovation Center
http://innovation.cms.gov
We accept comments in the spirit of our comment policy:
http://newmedia.hhs.gov/standards/comment_policy.html
CMS Privacy Policy
http://cms.gov/About-CMS/Agency-Information/Aboutwebsite/Privacy-Policy.html
The 2016 audit guide introduces new requirements for audits of schools that participate in federal student aid programs. It requires auditors to sample a minimum of 60 student files for schools with over 250 students, increases the detail required for examining administrative capabilities, and strengthens the assessment of gainful employment compliance. The guide is over 50% larger than the previous 2000 version. Auditors must submit reports through the eZ-Audit system and retain documentation for a minimum of five years.
Understanding Federal Programs from an Auditor PerspectiveDiane Bradley
The document discusses federal compliance requirements for the Child Nutrition Cluster federal program from an auditor's perspective. It provides an overview of the financial and federal compliance audit process as it relates to a school district's food service fund. It then reviews 12 potential federal compliance requirements and how auditors would test for compliance. Specific requirements covered in more depth include activities allowed/allowable costs, cash management, eligibility, equipment/property management, matching, period of performance, procurement/suspension and debarment, program income, reporting, and special tests and provisions such as verification of free and reduced price meal applications. The document emphasizes the importance of internal controls and provides examples of key controls for each compliance requirement.
California Incentives and Multi-State Tax Issues webinar slidesRoger Royse
An online discussion of various state tax issues for companies and individuals doing business in California. Our panelists cover recent developments in California income and sales tax, tax credits and incentives, multi-state tax issues for technology companies and state residency planning for individuals. Our panel of speakers includes:
Roger Royse, Royse Law Firm
Monika Miles, Miles Consulting Group
David Wittrock, Price, Wittrock CPA LLP
David Spence, Royse Law Firm
The document provides an overview and agenda for a grantee orientation web conference held by the Child Maltreatment Prevention Unit. The agenda covers introductions, an overview of the unit, fiscal processes like budgets, billing, and contract monitoring. It also reviews programmatic requirements such as evaluation components and reporting. Grantees will submit standardized invoices monthly including expenditure details. Source documentation for monitoring will be requested based on risk level. Budget revisions over 10% require approval. Data for evaluation includes aggregate demographics, outcomes, outreach activities and assessment analyses. Mid-year and final reports are due for different programs.
The document discusses programs to help homeowners avoid foreclosure, including the Home Affordable Refinance Program and Home Affordable Modification Program. It provides details on eligibility requirements, trial periods, documentation needed, and key statistics. The programs are aimed at reducing mortgage payments for struggling homeowners through refinancing or modifications.
1. The document contains a quiz on auditing governments and not-for-profit organizations from ACC 410 Week 10. It includes true/false questions, multiple choice questions, and essay questions on topics like the Single Audit Act, Government Auditing Standards, and compliance requirements for federal award recipients.
2. Key standards and laws discussed include the Yellow Book, Government Auditing Standards, Single Audit Act, and Sarbanes-Oxley Act. The quiz questions cover requirements for single audits, auditor qualifications, and assessing compliance in performance audits.
3. Performance audits conducted on government programs focus on evaluating efficiency, effectiveness, and if the program is achieving desired results. The document is a practice quiz to
ASPA Presentation - Performance Budgeting at the State Level (3-2014)John Kamensky
Most State Governments Use Performance Budgeting (or Budgeting for Results). A Team of Researchers from American University Assess Progress and Provide Case Examples at a Panel at the annual national conference of the American Society for Public Administration, March 2014, in Washington, DC.
Sound governance and effective institutions are essential to achieve shared prosperity and sustained reductions in poverty.
Public accountability and proper governance contribute to better delivery of public services, support competition and growth, including through cooperation with private sector.
Quality information helps the government properly analyze risks and play their essential roles in resolving the complex and interconnected challenges in variety of sectors, including in health, social protection and education.
Key Areas to Consider Regarding Grant ComplianceCBIZ, Inc.
Wilfredo Corps presented on key areas of grant compliance including classifying costs as direct or indirect, properly allocating and documenting staff time, strategies for determining unit costs, and new developments that may impact future grants administration. Some new developments proposed by OMB include focusing audit efforts on higher-risk awards, streamlining compliance requirements, strengthening audit follow-up processes, and reforming cost principles.
The Massachusetts School Building Authority (MSBA) effectively manages a school construction and renovation grant program. It has paid over $6.6 billion to complete 1,156 projects from a prior program and uses a collaborative process for new projects that emphasizes planning, budgeting, and prioritizing limited resources. The MSBA is funded by 1 cent of the statewide sales tax, but growing budget constraints require curtailing future funding to match available resources of around $2.5 billion over the next few years.
Session Six: Performance Budgeting For Sub National Entities, China, Meeting ...OECDtax
The document discusses performance budgeting at the sub-national level in the United States. It provides context on the fiscal relationship between federal, state, and local governments. States have significant autonomy but the federal government provides grants that comprise about a third of state spending and often have accountability requirements. The framework for performance budgeting and management at the federal level was established by the GPRA Modernization Act of 2010. Some unique challenges for performance budgeting at the sub-national level include the diversity of local governments and balancing compliance and innovation when relying on funding from multiple levels of government.
The Accountable Health Communities Model team hosted a webinar to provide an overview of the new funding opportunity and application requirements for Track 1 on Wednesday, September 14, 2016 from 2:00p.m. – 3:00p.m. EDT.
- - -
CMS Innovation Center
http://innovation.cms.gov
We accept comments in the spirit of our comment policy:
http://newmedia.hhs.gov/standards/comment_policy.html
CMS Privacy Policy
http://cms.gov/About-CMS/Agency-Information/Aboutwebsite/Privacy-Policy.html
The document discusses the changing dynamics of public budgeting processes at the national, state, and local levels. It outlines several reforms to budgeting over time, including the 1921 Budget and Accounting Act, the Congressional Budget and Impoundment Control Act of 1974, and deficit control acts of 1986 and 1990. While reforms aim to better allocate resources and improve financial management, they also face weaknesses such as fiscal stress, revenue uncertainty, and erosion of accountability due to complexity. Overall, the budget process remains challenging due to issues like novelty, annual perspectives, and forecasting problems in changing environments.
The document provides an overview and summary of several accounting standards updates (ASUs) issued by the FASB in 2014 that are relevant for private companies and other entities. It discusses the ASUs on simplifying goodwill accounting, interest rate swap accounting, applying variable interest entity guidance to common control leasing arrangements, and other topics. The ASUs aim to reduce costs and complexity for private companies while still providing useful information to financial statement users. The document outlines the objectives, who is affected, key provisions, differences from previous guidance, and effective dates of each ASU.
This document summarizes Stanford University's budget process and financial information systems. It outlines Stanford's financial overview, budget management approach, how the role of the budget has evolved over time, the financial information systems used including Hyperion Planning, and goals for the future such as improving variance analysis and forecasting using Hyperion.
The document provides information about an IRS audit of an employer's retirement plan. It discusses what areas the IRS may audit, including plan documentation, qualification requirements, prohibited transactions, plan operations, assets, taxes, and reporting. It also notes that the audit process for large plans with over 2,500 participants (EPTA cases) involves more pre-audit analysis, use of specialists, and requests for electronic data. The document compares the Self-Correction Program (SCP), Voluntary Correction Program (VCP), and Compliance Assistance Program (CAP) that employers can use to correct retirement plan failures.
The document discusses federal grant regulations including allowable and unallowable expenses, OMB circulars on grants management, cost principles, sub-recipient monitoring, and what an Inspector General auditor examines when reviewing grants. It also covers financial management systems required under OMB Circular A-110 including procurement standards, record keeping, and sub-recipient monitoring.
Dynamic Changes Occurring: OMB's Uniform Grant GuidanceStreamLinkSoftware
At this year’s National Association of State Auditors, Comptrollers and Treasurers (NASACT) Annual Conference in Chicago, Illinois, StreamLink Software CEO, Adam Roth, and partner at accounting firm Plante Moran, Michelle Watterworth, presented on UGG’s impact on grant administration and audits.
This document provides an agenda and overview of a presentation on the impact of the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (also known as the Supercircular or 2 CFR 200). The presentation covers introductions, an overview of merit review requirements, cost principles, prior approval requirements, and a question and answer session. Key changes introduced in 2 CFR 200 include new conflict of interest policies, mandatory disclosures, low-risk recipient standards, expanded federal agency authority for certifications, changes to time and effort reporting and allowability of costs, new merit review requirements, rules around cost sharing and indirect costs, and other administrative updates.
This presentation covers the basics of federal grant accounting and compliance (and why you need to know it), state and local tax and corporate tax issues (even if you're not generating revenue), R&D credits, and more for biotech companies.
The CMS Innovation Center held the second in a series of webinars on Wednesday, July 6, 2016 for the Support and Alignment Networks under the Transforming Clinical Practice Initiative (TCPI). This webinar focused on providing information regarding the application process.
- - -
CMS Innovation Center
http://innovation.cms.gov
We accept comments in the spirit of our comment policy:
http://newmedia.hhs.gov/standards/comment_policy.html
CMS Privacy Policy
http://cms.gov/About-CMS/Agency-Information/Aboutwebsite/Privacy-Policy.html
The 2016 audit guide introduces new requirements for audits of schools that participate in federal student aid programs. It requires auditors to sample a minimum of 60 student files for schools with over 250 students, increases the detail required for examining administrative capabilities, and strengthens the assessment of gainful employment compliance. The guide is over 50% larger than the previous 2000 version. Auditors must submit reports through the eZ-Audit system and retain documentation for a minimum of five years.
Understanding Federal Programs from an Auditor PerspectiveDiane Bradley
The document discusses federal compliance requirements for the Child Nutrition Cluster federal program from an auditor's perspective. It provides an overview of the financial and federal compliance audit process as it relates to a school district's food service fund. It then reviews 12 potential federal compliance requirements and how auditors would test for compliance. Specific requirements covered in more depth include activities allowed/allowable costs, cash management, eligibility, equipment/property management, matching, period of performance, procurement/suspension and debarment, program income, reporting, and special tests and provisions such as verification of free and reduced price meal applications. The document emphasizes the importance of internal controls and provides examples of key controls for each compliance requirement.
California Incentives and Multi-State Tax Issues webinar slidesRoger Royse
An online discussion of various state tax issues for companies and individuals doing business in California. Our panelists cover recent developments in California income and sales tax, tax credits and incentives, multi-state tax issues for technology companies and state residency planning for individuals. Our panel of speakers includes:
Roger Royse, Royse Law Firm
Monika Miles, Miles Consulting Group
David Wittrock, Price, Wittrock CPA LLP
David Spence, Royse Law Firm
The document provides an overview and agenda for a grantee orientation web conference held by the Child Maltreatment Prevention Unit. The agenda covers introductions, an overview of the unit, fiscal processes like budgets, billing, and contract monitoring. It also reviews programmatic requirements such as evaluation components and reporting. Grantees will submit standardized invoices monthly including expenditure details. Source documentation for monitoring will be requested based on risk level. Budget revisions over 10% require approval. Data for evaluation includes aggregate demographics, outcomes, outreach activities and assessment analyses. Mid-year and final reports are due for different programs.
The document discusses programs to help homeowners avoid foreclosure, including the Home Affordable Refinance Program and Home Affordable Modification Program. It provides details on eligibility requirements, trial periods, documentation needed, and key statistics. The programs are aimed at reducing mortgage payments for struggling homeowners through refinancing or modifications.
Financial management is the constant process of tracking progress towards financial objectives and safeguarding the financial assets of an organization. Financial management is important to grantees and project sponsors administering federal programs for several reasons: it helps organizations budget for activities; it promotes sound and efficient operation of organizations and their programs; it serves the need for accountability to funding agencies and beneficiaries of the program(s); and it is required by law. This workshop will provide practical recommendations on managing program budgets by illustrating examples of best practices and financial tools needed to manage grants and contracts effectively.
This document is a resume for Matthew F. Kelley, who has over 20 years of experience in commercial lending and financial analysis. He is currently seeking a new position and his resume outlines his qualifications, core competencies, and professional experience managing commercial loan portfolios and underwriting for various organizations.
The document provides guidance for plan sponsors on hiring an auditor for an employee benefit plan audit. It outlines fiduciary responsibilities for plan sponsors, when an audit is required, and the importance of hiring a quality auditor. A quality auditor can help identify errors, ensure compliance, and provide ongoing guidance and solutions to benefit the plan. The document recommends plan sponsors consider an auditor's experience level, team orientation, and ongoing involvement when selecting one.
Theory and Practice: Changes to OMB Single AuditSikich LLP
This document provides a summary of changes to the Office of Management and Budget's (OMB) single audit guidance and implementation of the Uniform Guidance. It discusses key changes such as combining multiple OMB circulars into one comprehensive guidance, the application and effective date of December 26, 2014 for grants initiated by the federal government, and new requirements for financial management systems, subrecipient monitoring, and determining conflicts of interest. The presentation aims to help organizations effectively implement the new single audit guidance and avoid related audit findings.
This document discusses utility on-bill repayment programs in California. It provides background on California's focus on financing energy efficiency incentives to meet aggressive goals. It reviews the policy and implementation issues California considered for its on-bill programs, including eligible sectors, measures, sources of funds, instruments, underwriting criteria and data collection. It describes California's pilot programs and the statewide "hub" used to coordinate financing activities. Key implementation challenges involved credit enhancements, data privacy, IT systems and balancing utility requirements with private capital needs.
www.Kay Sohl Consulting.org How an Auditor Looks at In.docxodiliagilby
www.Kay Sohl Consulting.org
How an Auditor Looks at
Internal Control
NASCSP State CSBG Monitors Training
November 17, 2010
Workshop Leader: Kay Sohl
www.Kay Sohl Consulting.org
Session Focus:
• Role & goal of independent audits
• Why auditors consider internal controls
• COSO framework
• System problems/implementation errors
• Testing controls & compliance
• Reports & findings
www.Kay Sohl Consulting.org
Quick Quiz?
1. What’s the purpose of an independent
audit of financial statements?
2. How is an A-133 audit different from a
“standard” audit of financial statements?
3. Who can conduct independent audits
and/or A-133 audits?
www.Kay Sohl Consulting.org
Independent Audits
• Board engages CPA to conduct
independent audit
• Management responsible for preparing
accurate financial statements
• Auditor responsible for opinion on extent
to which readers can rely on the
statements
www.Kay Sohl Consulting.org
Purpose of Independent Audit
Get auditor’s opinion about whether the
entity’s financial statements fairly present
the financial position and results of
activities in accord with standards of US
GAAP
www.Kay Sohl Consulting.org
Essential Requirements for
Auditors
• Independence
• Professional competence
• Sufficient study & testing to form basis for
opinion
• Work & communication in accord with
Generally Accepted Auditing Standards
www.Kay Sohl Consulting.org
GAAS
• Generally Accepted Audit Standards
• Developed by AICPA
• Published in Statements on Auditing
Standards (SAS)
• Significant changes since 2006
www.Kay Sohl Consulting.org
New Auditing Standards
• Require more rigorous analysis of risks
of misstatement and design of audit
procedures to test for significant risks
• Require disclosure to the board of
material weaknesses and significant
deficiencies
www.Kay Sohl Consulting.org
All Audits Require Auditor to:
• Understand the nature of the “business”
• Assess risks of misstatement &
noncompliance
• Understand controls to address risks
• Test controls
• Analyze results of test
• Determine significance of problems
www.Kay Sohl Consulting.org
Yellow Book Audits
• Government Auditing Standards
http://www.gao.gov/govaud/ybk01.htm
• Guides audits of individual federal
awards when A-133 not required
• Contains core requirements used for A-
133 audits
http://www.gao.gov/govaud/ybk01.htm
www.Kay Sohl Consulting.org
A-133 Audits
• Required when combined federal expenditures of
$500,000 or more within the organization’s fiscal
year
• Described in Office of Management & Budget
Circular A-133
• Include all standard independent audit procedures
and reports
• Require additional testing and reporting on
compliance with federal funds requirements
www.Kay Sohl Consulting.org
A-133 Audits- continued
• Include auditor’s opinion on compliance
wit ...
Grant Accountability and Transparency Act (GATA) Overview for Workforce Grants Illinois workNet
The Illinois Department of Commerce, Office of Employment and Training will be providing an online training session on the new requirements of the Grant Accountability and Transparency Act targeted to organizations that are interested in applying for state workforce grants. The session will focus on the WIOA Youth Career Pathways grant application (Notice Of Funding Opportunity) to highlight the new GATA requirements.
FED GOV CON - Strategies for Success in Government ContractingJSchaus & Associates
This document provides an overview of strategies for successfully doing business with the U.S. government as a federal contractor. It discusses the different types of contracts and grants, important factors like politics, procedures, and timing. It also outlines strategies for sealing deals like subcontracting and taking advantage of small business set-asides. Key requirements are explained for vehicles like GSA Schedules and registering in systems like SAM. Government contracting laws and regulations are reviewed in areas like non-discrimination, affirmative action, wages, and safety standards. Successful bidding practices are also emphasized.
Elevate Your Nonprofit's Online Presence_ A Guide to Effective SEO Strategies...TechSoup
Whether you're new to SEO or looking to refine your existing strategies, this webinar will provide you with actionable insights and practical tips to elevate your nonprofit's online presence.
This presentation was provided by Racquel Jemison, Ph.D., Christina MacLaughlin, Ph.D., and Paulomi Majumder. Ph.D., all of the American Chemical Society, for the second session of NISO's 2024 Training Series "DEIA in the Scholarly Landscape." Session Two: 'Expanding Pathways to Publishing Careers,' was held June 13, 2024.
Philippine Edukasyong Pantahanan at Pangkabuhayan (EPP) CurriculumMJDuyan
(𝐓𝐋𝐄 𝟏𝟎𝟎) (𝐋𝐞𝐬𝐬𝐨𝐧 𝟏)-𝐏𝐫𝐞𝐥𝐢𝐦𝐬
𝐃𝐢𝐬𝐜𝐮𝐬𝐬 𝐭𝐡𝐞 𝐄𝐏𝐏 𝐂𝐮𝐫𝐫𝐢𝐜𝐮𝐥𝐮𝐦 𝐢𝐧 𝐭𝐡𝐞 𝐏𝐡𝐢𝐥𝐢𝐩𝐩𝐢𝐧𝐞𝐬:
- Understand the goals and objectives of the Edukasyong Pantahanan at Pangkabuhayan (EPP) curriculum, recognizing its importance in fostering practical life skills and values among students. Students will also be able to identify the key components and subjects covered, such as agriculture, home economics, industrial arts, and information and communication technology.
𝐄𝐱𝐩𝐥𝐚𝐢𝐧 𝐭𝐡𝐞 𝐍𝐚𝐭𝐮𝐫𝐞 𝐚𝐧𝐝 𝐒𝐜𝐨𝐩𝐞 𝐨𝐟 𝐚𝐧 𝐄𝐧𝐭𝐫𝐞𝐩𝐫𝐞𝐧𝐞𝐮𝐫:
-Define entrepreneurship, distinguishing it from general business activities by emphasizing its focus on innovation, risk-taking, and value creation. Students will describe the characteristics and traits of successful entrepreneurs, including their roles and responsibilities, and discuss the broader economic and social impacts of entrepreneurial activities on both local and global scales.
THE SACRIFICE HOW PRO-PALESTINE PROTESTS STUDENTS ARE SACRIFICING TO CHANGE T...indexPub
The recent surge in pro-Palestine student activism has prompted significant responses from universities, ranging from negotiations and divestment commitments to increased transparency about investments in companies supporting the war on Gaza. This activism has led to the cessation of student encampments but also highlighted the substantial sacrifices made by students, including academic disruptions and personal risks. The primary drivers of these protests are poor university administration, lack of transparency, and inadequate communication between officials and students. This study examines the profound emotional, psychological, and professional impacts on students engaged in pro-Palestine protests, focusing on Generation Z's (Gen-Z) activism dynamics. This paper explores the significant sacrifices made by these students and even the professors supporting the pro-Palestine movement, with a focus on recent global movements. Through an in-depth analysis of printed and electronic media, the study examines the impacts of these sacrifices on the academic and personal lives of those involved. The paper highlights examples from various universities, demonstrating student activism's long-term and short-term effects, including disciplinary actions, social backlash, and career implications. The researchers also explore the broader implications of student sacrifices. The findings reveal that these sacrifices are driven by a profound commitment to justice and human rights, and are influenced by the increasing availability of information, peer interactions, and personal convictions. The study also discusses the broader implications of this activism, comparing it to historical precedents and assessing its potential to influence policy and public opinion. The emotional and psychological toll on student activists is significant, but their sense of purpose and community support mitigates some of these challenges. However, the researchers call for acknowledging the broader Impact of these sacrifices on the future global movement of FreePalestine.
🔥🔥🔥🔥🔥🔥🔥🔥🔥
إضغ بين إيديكم من أقوى الملازم التي صممتها
ملزمة تشريح الجهاز الهيكلي (نظري 3)
💀💀💀💀💀💀💀💀💀💀
تتميز هذهِ الملزمة بعِدة مُميزات :
1- مُترجمة ترجمة تُناسب جميع المستويات
2- تحتوي على 78 رسم توضيحي لكل كلمة موجودة بالملزمة (لكل كلمة !!!!)
#فهم_ماكو_درخ
3- دقة الكتابة والصور عالية جداً جداً جداً
4- هُنالك بعض المعلومات تم توضيحها بشكل تفصيلي جداً (تُعتبر لدى الطالب أو الطالبة بإنها معلومات مُبهمة ومع ذلك تم توضيح هذهِ المعلومات المُبهمة بشكل تفصيلي جداً
5- الملزمة تشرح نفسها ب نفسها بس تكلك تعال اقراني
6- تحتوي الملزمة في اول سلايد على خارطة تتضمن جميع تفرُعات معلومات الجهاز الهيكلي المذكورة في هذهِ الملزمة
واخيراً هذهِ الملزمة حلالٌ عليكم وإتمنى منكم إن تدعولي بالخير والصحة والعافية فقط
كل التوفيق زملائي وزميلاتي ، زميلكم محمد الذهبي 💊💊
🔥🔥🔥🔥🔥🔥🔥🔥🔥
Beyond Degrees - Empowering the Workforce in the Context of Skills-First.pptxEduSkills OECD
Iván Bornacelly, Policy Analyst at the OECD Centre for Skills, OECD, presents at the webinar 'Tackling job market gaps with a skills-first approach' on 12 June 2024
The New A-133 Compliance Supplement and It's Impact
1. THE NEW A-133 COMPLIANCE
SUPPLEMENT AND ITS IMPACT ON
GRANT AUDITS
August 29, 2013
Steven Spillan, Esq.
sspillan@bruman.com
Brustein & Manasevit, PLLC
2. About the Speaker
• Steven Spillan joined Brustein & Manasevit, PLLC in
January 2006 as a Legislative Assistant. In 2011, Mr.
Spillan became as Associate with the Firm. Mr. Spillan
assists clients with federal grants management and
various federal education programs, including the
Elementary and Secondary Education Act, the Carl D.
Perkins Career and Technical Education Act, the
Workforce Investment Act, the Higher Education Act, and
the Family Educational Rights and Privacy Act. Mr. Spillan
also works with the Legislative Director and clients to
develop their federal legislative strategies and facilitates
their representation before Congress and administrative
agencies.
3. Agenda
• 2013 Changes
• Compliance Requirements
• ARRA Changes
• Agency Changes
• Proposed Changes in “Super Circular”
4. Purpose of Compliance Supp
• Assist auditors in determining compliance requirements
relevant to the audit, audit objectives, and suggested
audit procedures for federal programs.
5. Applicability
• Any non-federal entity that expends $500,000 or more in
federal funds in a year.
• Must have Sing Audit.
• Often leads to OIG audits or program monitoring findings.
6. 2013 Changes
• Most changes focus on auditing ARRA programs.
• Changes to/ Applicability of Compliance Requirements.
• Simplified Acquisition Threshold.
• Agency-Specific changes.
7. Compliance Requirements
• 14 areas of concern that auditors are directed to look for
when completing A-133 Single Audits.
• If “deleted” from certain programs’ Single Audit
requirements, pass-through entities still responsible for
ensuring compliance.
8. Compliance Requirements
• Deleted “Davis-Bacon Act” and “Special Tests and
Provisions,” from programs if:
• Inclusion was based solely on ARRA funding, and
• The program(s) is continuing without ARRA funding.
9. Compliance Requirements
• Eliminated applicability of certain requirements
due to lack of materiality to the affected
program/cluster:
• Equipment and Real Property
• Procurement and Suspension and Debarment;
• Program Income; and
• Real Property Acquisition and Relocation
Assistance
10. Compliance Requirements
• Modified, “Procurement and Suspension and
Debarment,” to
• update and clarify compliance requirements;
• update suggested audit procedures for testing compliance; and
• recognize that some programs/awards may have authorized use of
higher simplified acquisition threshold,
11. Procurement - ARRA
• Section 1605 of ARRA:
• Prohibits the use of ARRA funds for a project for the construction,
alteration, maintenance, or repair of a public building or work
unless all of the iron, steel, and manufactured goods used in the
project are produced in the United States.
• Buy American Act
12. Procurement - Audits
• ARRA Construction projects:
• documented that the iron, steel, and manufactured goods used in
the project are produced in the United States, or
• requested and received any waivers of the Buy-American
requirements.
13. Procurement - Audits
• Exceptions to “Buy American”:
• The recipient or subrecipient is covered by an international
agreement and the scope of that agreement or
• The recipient has requested and been granted an exception
14. Procurement - Audits
• Verify that the Federal awarding agency
approved procurements exceeding $100,000
when required.
• noncompetitive negotiation,
• only a single bid or offer was received,
• awarded to other than the apparent low bidder, or
• specifying a “brand name” product
15. Procurement - Audits
• $100,000 threshold remains in government-wide use
unless:
• Agency/program has issued guidance raising the threshold, or
• Increased threshold is specified in the terms and conditions of
award.
16. Reporting
• Modified “Reporting,” to revise coverage related to the
Federal Funding Accountability and Transparency Act
(FFATA), including updating suggested audit procedure
(compliance) #11, and the “Good Faith Effort for
Submission” section.
17. FFATA Reporting
• Recipient reporting of each first-tier subaward or
subaward amendment that results in an obligation of
$25,000 or more in Federal funds;
• Contractor reporting of each first-tier subcontract award of
$25,000 or more in Federal funds.
18. FFATA Reporting – Triggering Event
• Grant or cooperative agreement: obligation of funds
rather than a payment;
• Contract: awarding or modifying a first-tier subcontract.
19. FFATA Reporting
• Reporting must be accomplished by the end of the month
following the month in which the reportable action
occurred
• Grants funds obligated on Oct. 1 must be reported by November 30
20. Reporting - Audits
• Auditors are not required to report audit findings when
there is evidence that a recipient demonstrated a “good
faith” effort to submit the information.
21. Reporting - Audits
• Good Faith Evidence:
• emails or phone logs of communication between a recipient and
the awarding agency or GSA; or
• computer screen shots that illustrate recipient attempts to upload
information into FSRS.
22. Programmatic Changes
• Part 4 of Compliance Supplement lists changes for
federal agency programs.
• Each grant recipient should check applicable sections
23. U.S. Department of Education
• Addition of “ESEA Flexibility” in Title I programs.
• Discussions effect of flexibility on existing audit
procedures and subsequent changes.
24. ESEA Flexibility
• Transferability - In a “Flexibility” State, an SEA
or an LEA may transfer up to 100% of the
funds available under one or more of the
authorized ESEA programs among those
programs and into Title I, Part A (without prior
notification).
• not subject to any set-aside requirements of but still subject to all
other requirements.
25. ESEA Flexibility (cont)
• A “Flex” State may have enacted laws or promulgated
regulations, etc… to meet flex requirements.
• Use of federal funds for these purposes would not violate
the “required by law” presumption of supplanting
26. ESEA Flexibility
• Schoolwide – A Title I school with less than
40% low-income children may operate a
schoolwide program if:
• Identified as a priority or focus school, and
• LEA is implementing interventions consistent with the turnaround
principles based on the needs of the students, designed to
enhance the entire educational program in the school
27. ESEA Flexibility
• In Flex State – may serve a Title I-eligible high school with
a graduation rate below 60% that is identified as a priority
school:
• May allocate funds to that school out of rank order of poverty and
based on the needs of the school.
28. Title II-A Confusion
• Title II-A - Must reserve an amount equal to or greater
than the amount of funds reserved for professional
development in fiscal year (FY) 2001.
• Statute and Guidance specify funds are to be used for both public
and private school professional development services.
29. Title II-A Confusion
• 2013 Supplement: Title II-A reservation funds just for
private school services.
• When Supplement conflicts with current laws and
regulations, follow the law.
30. Additional ED Changes
• Time & Effort:
• Time-and-effort requirements in a schoolwide program specific to
the Education Jobs Program (Section III.B.2.b).
• Use of a substitute system for time-and-effort reporting (Section
III.B.2.c).
31. Upcoming Changes
• OMB Super Circular February 2013:
• Greater simplicity
• Greater consistency
• Obama Executive Order on Regulatory Review
• Comment period closed June 2, 2013.
• Final rules expected…?
32. Super Circular Changes
• Single Audit Threshold raised to $750,000
• 7 Compliance Requirements Eliminated
• Greater focus on risk
• Time & Effort Changes
33. Eliminating 7 Compliance Requirements
1. Equipment
2.
3.
4.
5.
Management
MOE/EarMarking
Procurement
Program
Income
David Bacon
6. Real Property
Acquisition
7. Period of
Availability
34. Eliminated Requirements
• Agencies can request special tests for A-133 items
removed (e.g., equipment management, period of
availability of funds)
35. Impact on Audits?
• Elimination of compliance requirements does not mean
elimination of compliance.
• Lack of Single Audit review requires greater subrecipient
monitoring.
• Pass-through entities still responsible for ensuring
compliance
36. Other Single Audit Changes
• Federal awarding agencies shall use “cooperative audit
resolution mechanisms” to improve federal program
outcomes through better audit resolution, follow-up and
corrective action
37. Cooperative Audit Resolution
• This approach is based upon “Federal agencies offering
appropriate amnesty for past noncompliance when audits
show prompt corrective action”
38. Audit Findings
• The auditor shall report known questioned costs greater
than $25,000 for major programs
• If not a major program (auditor normally will not find
questioned costs) but if auditor becomes aware of
questioned costs greater than $25,000 for non-major
programs – must report
41. Do you have a question that you would like
answered during the Q&A session?
Simply follow the instructions below.
To ask a question, please press *1 on your touchtone
phone.
If you are using a speaker phone, please lift the receiver
and then press *1.
If you would like to withdraw your question, press *1.
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43. This presentation is intended solely to provide general information and
does not constitute legal advice. Attendance at the presentation or
later review of these printed materials does not create an attorneyclient relationship with the presenter(s). You should not take any action
based upon any information in this presentation without first consulting
legal counsel familiar with your particular circumstances.
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