audits a-133 compliance and audit readiness
DESCRIPTION
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. - PowerPoint PPT PresentationTRANSCRIPT
AuditsA-133 Compliance and Audit Readiness
By: Tracy JacksonSenior Grants Management Specialist (Audits)
Audits0 Sets forth standards for obtaining consistency
and uniformity among Federal agencies for the audit of non-Federal entities expending Federal awards.
0 Safeguards Federal funds and protects against fraud, waste and abuse.
0 Audits conducted:0 Independent Auditor - Single Audit &
Program-Specific0 NOAA Personnel - Grants Management
Division (GMD) & Federal Program Office (FPO)0 Conduct Site Visits0 Resolve audit findings through Audit
Resolution Process
A-133 Audits: Requirements
0 Applies to: States, Local Governments and Non-Profit Organizations .
0 Required if: Expenditures are $500,000 or more in one fiscal year.
0 Frequency: Annually, following audit fiscal year end date.
0 Due: nine months after the end of the recipients audit fiscal year end date.
0 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
0 Applies to: For-Profit Entities
0 Required if: Expenditures are $500,000 or more in one fiscal year, or as specified in the award.
0 Frequency: Bi-Annually based on Federal Program Office specifications via Special Award Condition.
0 Due: 90 days after the end of the applicable program year.
0 Submission of Audit: Program-Specific audits should be submitted to the program Officer and to the Department of Commerce Office of Inspector General.
Single Audit Program-Specific Audit
Grants Management Division/Federal Program Office -Audit Review and Assessment
0 Is the Audit Current
0 Schedule of Findings and Questioned Costs
0 Qualified or Unqualified Opinion
0 Significant Internal Control Deficiencies
0 Corrective Action Plan
0 Audit Resolution Process
0 Required pursuant to Departmental Administrative Order (DAO) 213-5 “Audit Resolution and Follow-up”
0 Audit Resolution Process:0 OIG submits audit reports to the GMD with audit findings and recommendations were questioned cost is
$10,000 or greater.
0 GMD conducts review , makes proposal for audit resolution, notifies the FPO and sends to OIG for concurrence.
0 GMD establishes an Audit Determination Letter and establishes a debt.
0 Recipient is afforded the opportunity to appeal the audit determination.
0 GMD renders a final decision on appeal.
Audit Resolution Process
Common Audit Findings
Cash Management
Reporting
Segregation of Duties
Sub-Recipient Monitoring
Questionable Costs
Expenditures are not properly supported.
Reports not filed in a timely manner; incomplete or missing reports.
Payments initiated and approved by the same individual.
Lack of financial or performance monitoring.
Cost expended are not consistent with project avtivities and/or are unallowable in accordance with the applicable costs principles of the award.
Ways to Mitigate and Prevent Audit Findings
Grantee Type
Administrative Requirements
Cost Principles
Audit Requirements
State & Local Governments
(15 CFR Part 24) A-87(2CFR, Part 225)
A-133
Educational Institutions
(15 CFR Part 14) A-21(2CFR, Part 220)
A-133
Non-Profit Organizations
(15 CFR Part 14) A-122(2CFR, Part 230)
A-133
For-Profit Entities
15 CFR Part 14 48 CFR Part 31.2 A-133 – Program Specific
