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Audits A-133 Compliance and Audit Readiness

Audits A-133 Compliance and Audit Readiness. By: Tracy Jackson Senior Grants Management Specialist (Audits). Audits. Sets forth standards for obtaining consistency and uniformity among Federal agencies for the audit of non-Federal entities expending Federal awards.

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Audits A-133 Compliance and Audit Readiness

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  1. AuditsA-133 Compliance and Audit Readiness By: Tracy Jackson Senior Grants Management Specialist (Audits)

  2. Audits • Sets forth standards for obtaining consistency and uniformity among Federal agencies for the audit of non-Federal entities expending Federal awards. • Safeguards Federal funds and protects against fraud, waste and abuse. • Audits conducted: • Independent Auditor - Single Audit & Program-Specific • NOAA Personnel - Grants Management Division (GMD) & Federal Program Office (FPO) • Conduct Site Visits • Resolve audit findings through Audit Resolution Process

  3. Single Audit Program-Specific Audit A-133 Audits: Requirements • Applies to: States, Local Governments and Non-Profit Organizations . • Required if: Expenditures are $500,000 or more in one fiscal year. • Frequency: Annually, following audit fiscal year end date. • Due: nine months after the end of the recipients audit fiscal year end date. • Submission of Audit: Audit reports and Data Collection Forms should be submitted to the Federal Audit Clearinghouse: http://harvester.census.gov/fac/collect/ddeindex.html • Applies to: For-Profit Entities • Required if: Expenditures are $500,000 or more in one fiscal year, or as specified in the award. • Frequency: Bi-Annually based on Federal Program Office specifications via Special Award Condition. • Due: 90 days after the end of the applicable program year. • Submission of Audit: Program-Specific audits should be submitted to the program Officer and to the Department of Commerce Office of Inspector General.

  4. Grants Management Division/Federal Program Office -Audit Review and Assessment • Is the Audit Current • Schedule of Findings and Questioned Costs • Qualified or Unqualified Opinion • Significant Internal Control Deficiencies • Corrective Action Plan • Audit Resolution Process

  5. Audit Resolution Process • Required pursuant to Departmental Administrative Order (DAO) 213-5 “Audit Resolution and Follow-up” • Audit Resolution Process: • OIG submits audit reports to the GMD with audit findings and recommendations were questioned cost is $10,000 or greater. • GMD conducts review , makes proposal for audit resolution, notifies the FPO and sends to OIG for concurrence. • GMD establishes an Audit Determination Letter and establishes a debt. • Recipient is afforded the opportunity to appeal the audit determination. • GMD renders a final decision on appeal.

  6. Common Audit Findings Expenditures are not properly supported. Cash Management Reports not filed in a timely manner; incomplete or missing reports. Reporting Payments initiated and approved by the same individual. Segregation of Duties Lack of financial or performance monitoring. Sub-Recipient Monitoring Cost expended are not consistent with project avtivities and/or are unallowable in accordance with the applicable costs principles of the award. Questionable Costs

  7. Ways to Mitigate and Prevent Audit Findings

  8. Questions Thank you! Tracy Jackson | tracy.jackson@noaa.gov | 301-628-1323

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