This Governmental Audit Quality Center (GAQC) archived Web event is intended to provide auditors and auditees with an understanding of the key provisions relating to pass-through entities and subrecipients contained in U.S. Office of Management and Budget (OMB) Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance for Federal Awards).
About the Event
Time is running out on auditee’s having to implement the numerous provisions contained within OMB’s Uniform Guidance for Federal Awards. One of the areas in the Uniform Guidance that is being significantly emphasized relates to subrecipient monitoring. The result may be that auditees that are pass-through entities will need to ramp up their subrecipient monitoring systems and efforts. While auditees need to be highly focused on these new requirements, auditors also need to gain an understanding of them as ultimately they will be auditing clients’ compliance. This session is intended to help both auditors and auditees understand the following:
- Determining subrecipients versus contractors (a new term that replaces vendors);
- An overview of the subrecipient monitoring requirements contained in the Uniform Guidance and how they have changed;
- Roles and responsibilities of pass-through entities and subrecipients;
- Risk assessment considerations;
- Auditor considerations; and
- Relevant questions contained in the recently released Council on Financial Assistance Reform (COFAR) frequently asked questions (FAQ) document.
About the Presenters
Heather Acker, CPA, is a Partner in the public sector practice group of Baker Tilly. She has 19 years of experience auditing governments, specializing in single audits and grants compliance throughout her career. Recently, she has been working with various local governments, counties, and state agencies to help them prepare for implementation of the OMB Uniform Guidance for Federal Awards. Heather is a former member of the AICPA State and Local Government Expert Panel, and is a current member of the AICPA GAQC Executive Committee. In this role, she is also a reviewer of various AICPA audit guides and risk alerts.
Kevin Smith, CPA, is the partner in charge of Crowe Horwath’s national government audit practice. He has more than twenty years of experience in public accounting, with a focus on providing financial statement and compliance auditing services to government and not-for-profit organizations. Additionally, he is a frequent speaker at various conferences and is an instructor at the Southwest School of Government. Kevin is an active member of the AICPA and serves on the State and Local Government Expert Panel.
Archived Web Event Listening Instructions
Thank you for your interest in this GAQC Event.
Click on the below link, to listen to the archived Web event. There is no continuing professional education available when listening to an archived event.