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On August 16th, Carol Barnard and Scott Sheffler of Feldesman Tucker Leifer Fidell LLP hosted a webinar entitled, “A-133/ Subpart F Audits.” Carol and Scott combined their grants accounting and legal experience to provide an in-depth discussion on the Single Audit Act annual audit process that all medium and large grantees must undergo, often referred to as the “Uniform Guidance,” “A-133,” or “Subpart F” audit.
Carol and Scott discussed the federal purposes and authorities for audits, grantees’ obligations, and what to expect from auditors and federal agencies in the audit process. The Single Audit is the federal government’s most important tool for testing your compliance with the terms of your awards. Additionally, it is a major annual expense for your organization.
By attending this webinar, participants gained an understanding of the process, their rights, and their obligations. Key learning objectives included:
- The federal purpose and authorities for the Single Audit under the Uniform Guidance.
- The audit process from engaging an audit firm, to coordinating the onsite fieldwork, to reviewing and addressing potential findings in the audit report.
- Your rights vis-à-vis your awarding agency in the audit resolution process.