[CAFR-Contacts-News] OMB's New 2011 Compliance Supplement audio conference 5/26

Tue May 24 08:38:29 PDT 2011

There are still seats available for Thursday's audio conference.

CAFR Contacts,

The State Controller's Division is sponsoring the Thompson Interactive
audio conference "OMB's New 2011 Compliance Supplement for Circular
A-133 Audits: How Grant Recipients and Subrecipients Can Use it for
Audit Readiness." The audio conference write-up provided by Thompson
Interactive and information on date, time, location and how to sign up
are below.

http://www.thompson.com/images/tpg/email-images/rounded-email-templates/
email-acs/logos/thompson-interactive.gif  

<http://emessaging.vertexcommunication.com/ct/22093399:4675401389:m:1:29
2555263:FE7C17D938D8AEE07AB67F30C14FD3D2> OMB's NEW 2011 Compliance
Supplement for Circular A-133 Audits: How Grant Recipients and
Subrecipients Can Use It for Audit Readiness

Every spring, the Office of Management and Budget (OMB) releases the
complete update to its "Compliance Supplement for Circular A-133 Audits"
to provide independent auditors with guidance about the compliance
requirements to be reviewed in the course of these mandated audits of
federal funds. The extensive annual "Supplement" saves non-federal
auditors research time and provides assurance to the federal government
that audit testing will be uniformly carried out in the thousands of
A-133 audits conducted each year. 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 grant recipients and subrecipients-want to become familiar
with it? Because...it covers what they're going to be tested on. This
year, that is even more important. The new Supplement continues to
stress what auditors are expected to look for in the expenditures made
under the programs funded under the American Recovery and Reinvestment
Act-better known as "The Stimulus." Auditors were previously instructed
to treat all of those programs as "high risk."  And it should come as no
surprise that the Supplement is also focusing on the accuracy of  new
subaward reporting required under the Federal Funding Accountability and
Transparency Act-also known as the Coburn-Obama Act.  With the high
visibility of these requirements, it'll be particularly important to be
"audit ready" this year.   

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, he will help
you examine this latest version of the OMB Compliance Supplement-but
from the unique viewpoint of federal grantees and subgrantees.

During this audio conference, Mr. Lloyd will:

*	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
*	Review the 14 key general grants management compliance areas
that are specified for audit testing
*	Identify the kinds of tests that auditors are likely to use
*	Focus on the unique requirements that will be tested when some
or all of a grant award is funded using Recovery Act (Stimulus) funds
*	Suggest ways to develop or improve your documentation to
demonstrate compliance
*	Caution you about ways that inappropriate "back door"
requirements might be surfacing from the guidance in the Supplement
*	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 those programs
*	Highlight what to expect in the auditor's review of your
internal controls over federal programs-- 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 your specific
question!

Date: Thursday, May 26, 2011

Time: 11:00 a.m.-12:30 p.m. Pacific Standard Time

Location: Veteran's Auditorium

Prerequisite: Background knowledge of federal grants management

Advance Prep: None required      

CPE: 1.5 credit hours awarded upon completion of the audio conference
and its post-conference survey

Cost:  FREE (Sponsored by SCD)

Registration:    https://ilearn.oregon.gov <https://ilearn.oregon.gov/> 

Registration for this event will be coordinated through iLearnOregon
using the link provided above.  You will need an active iLearnOregon
account to complete the registration process.  If you do not already
have an iLearnOregon account, you can find information on how to create
an account on the main log-in page for iLearnOregon.  Once you have 
logged-in you will find a link for "How to Register For A Course" in the
left 
navigation panel under "iLearnOregon Help Center."  

If you have questions, please contact Jeanne Bock at
Jeanne.bock at state.or.us or by phone at
503-373-7277 ext. 268.

Jeanne Bock

Senior Accounting Analyst

Oregon State Controller's Division

155 Cottage Street NE  U50

Salem, OR  97301-3969

Phone: 503-373-7277 ext 268

Fax: 503-378-3514

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

Data Classification: Level 1 - Published

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