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TIMESHEETS Surviving an Audit . Louise M. Peabody, CPA Watkins, Meegan, Drury & Co., L.L.C. Donna Kilbourn Unanet Technologies, Inc. Types of Audits . Pre-Award Surveys Post Award Audit Observations of Work Areas (Floor Checks). Allowable Costs Reasonable Costs Allocable Costs.
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TIMESHEETSSurviving an Audit Louise M. Peabody, CPA Watkins, Meegan, Drury & Co., L.L.C. Donna Kilbourn Unanet Technologies, Inc.
Types of Audits • Pre-Award Surveys • Post Award Audit • Observations of Work Areas (Floor Checks) Time Sheet Audits lpeabody@wmdco.com
Allowable Costs Reasonable Costs Allocable Costs Why Important to Government Time Sheet Audits lpeabody@wmdco.com
General Procedures Accounting and HR IT Department Timekeeping Policies and Procedures Time Sheet Audits lpeabody@wmdco.com
Logical Security Policies & Procedures Physical Security Security Proceduresand Objectives Time Sheet Audits lpeabody@wmdco.com
Importance of function Employee responsible for accuracy and timeliness Supervisor responsible for oversight Responsibility for communicating assignments TimekeepingPolicies and Procedures Time Sheet Audits lpeabody@wmdco.com
Recording of all time including uncompensated overtime Frequency of recording Frequency of transmitting Approval process Process for approving and documenting corrections TimekeepingPolicies and Procedures Time Sheet Audits lpeabody@wmdco.com
Time Sheet Compliance • Prepared timely • Prepared accurately • Proper jobs/contracts/tasks charged • Approval by knowledgeable supervisor Time Sheet Audits lpeabody@wmdco.com
Unanet Compliance Features • Individual timesheets with password access • Users limited to authorized projects or tasks • Allows blocking of advance charging • Approvers can be blocked from editing users timesheet Time Sheet Audits lpeabody@wmdco.com
Unanet Compliance Features • Notification process • Ability to monitor delinquent time sheets • Audit trail for changes to “saved time” • Audit trail for time sheet approval process Time Sheet Audits lpeabody@wmdco.com
What to Expect • Labor and Timekeeping - General • Overall integrity of controls • Employee awareness training • Work authorization • Policies and Procedures • Floor Check Time Sheet Audits lpeabody@wmdco.com
What to Expect • Labor and Timekeeping - General • Reconciliation to labor distribution • Uncompensated overtime • Direct, indirect and unallowable • Overtime authorization • Pay rate authorization Time Sheet Audits lpeabody@wmdco.com
What to Expect • Labor and Timekeeping • Approval and review of labor transfers • On-line adjustments Time Sheet Audits lpeabody@wmdco.com
What to Expect • Floor Checks • Observe system • Examine timesheets • Interview employees • Interview supervisors/project managers Time Sheet Audits lpeabody@wmdco.com
What to Expect • Floor Checks – Timesheet sample • Requests list of employees • Selects sample employees • Requests printed timesheets • Reviews for completion, charging, etc. Time Sheet Audits lpeabody@wmdco.com
What to Expect • Floor Checks – employee interview • How do you know what to charge? • Who tells you what/how to charge • Where do you charge if not working on a contract • Do you record all of your hours • How do you enter time when computer is not accessible Time Sheet Audits lpeabody@wmdco.com
Summary • Policies and Procedures • Adherence to Policies and Procedures • Management Attitude • Monitoring and Review • Security Systems and Controls Time Sheet Audits lpeabody@wmdco.com
