[CAFR-Contacts-News] Training Opportunity August 24th - Circular A-133 New Compliance Supplement

Tue Aug 3 09:48:24 PDT 2010

OMB's New Compliance Supplement for Circular A-133 Audits

August 24, 2010

Veterans Auditorium

________________________________

The State Controller's Division is hosting a 90 minute Thompson
Interactive audio conference called OMB's New Compliance Supplement for
Circular A-133 Audits: How Grantees Can Use it for Audit Readiness.
Below are details about the date and time, as well as the audio
conference write-up provided by Thompson Interactive.

Date:        Tuesday, August 24, 2010

Time:       11:00 AM - 12:30 PM 

Location:  Veteran's Auditorium

                 700 Summer Street NE

                 Salem, OR 97301

CPE:          1.5 

Cost:         Free (sponsored by SCD)

Every spring, the Office of Management and Budget (OMB) issues a
complete update to its "Compliance Supplement for Circular A-133 Audits"
to provide independent auditors with guidance about the compliance
requirements that must be reviewed in the course of these mandated
audits of federal funds. The extensive annual "Supplement" saves
non-federal auditors research time and provides reasonable assurance to
the federal government that audit testing will be uniformly carried out
in the thousands of A-133 audits conducted annually. Use of the
Compliance Supplement has become known as a "safe harbor" for auditors
-- if they follow it, they satisfy the compliance testing expectations
of Circular A-133.

So, if the "Compliance Supplement" is for auditors, why would anyone
else -- like grantees and subgrantees -- want to become familiar with
it? Because...it covers what they're going to be tested on. This year,
that is even more important because the new Supplement is addressing
what auditors are expected to look for in the massive federal programs
funded under the American Recovery and Reinvestment Act-better known as
"The Stimulus." Because of their sheer dollar size, newness, and unique
statutory requirements, many of these programs are being judged as "high
risk" by federal awarding agencies and will have to be subjected to
mandatory testing by the non-federal auditors who are carrying out the
Circular A-133 audits. With the high visibility of these programs, it'll
be particularly important to be "audit ready."   

Learn how during this audio conference featuring speaker, Bob Lloyd, a
respected authority on federal policies affecting acquisition,
administration and audit of federal grants, with more than 35 years of
experience in federal award administration and oversight. His
presentation will look at the latest version of the OMB Compliance
Supplement-but from the unique viewpoint of federal grantees and
subgrantees.

During this audio conference, Mr. Lloyd will address the following
topics and more:

1. Provide a "roadmap" of how the "Compliance Supplement" is organized
and how to "cut to the chase" to find the information you or your
auditor need

2. Review the 14 key general grants management compliance areas that are
specified for audit testing. 

3. Identify the kinds of tests that auditors are likely to use

4. Focus on the unique requirements that will be tested when some or all
of a grant award is funded using Recovery Act (Stimulus) funds.

5. Suggest ways to develop or improve your documentation to support your
compliance

6. Detail what will happen if some of your grant programs aren't covered
in the "Supplement" and what your role should be in developing the
compliance information for that program

7. Highlight what to expect in the auditor's review of internal controls
over federal awards-- another way of saying, your grants management
system

Plus, time will be set aside for an interactive Q&A session after the
presentation. Listen in and get the chance to ask the speaker your
questions!

To register:  Send an e-mail to SCD.Register at state.or.us 

The following information should be included in your e-mail:

"OMB's New Compliance Supplement - August 24" (subject line of message)

Attendee name

Agency name

E-mail address

Telephone number

If you have questions, please contact Jeanne Bock at 503-373-7277 ext.
268.

Oregon State Controller's Division

155 Cottage Street NE  U50

Salem, OR  97301-3969

Phone: 503-373-7277 

Fax: 503-378-3514

http://oregon.gov/DAS/SCD/SARS <http://oregon.gov/DAS/SCD/SARS> 

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