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Managing Audits at OSU. OMB Circular A-133 Compliance Agency Specific Most Likely Risk Areas How do you Survive? Office of Inspector General Investigations and Reviews. Kim Calvery. OMB Circular A-133. Audits of States, Local Governments, and Non-Profit Organizations. Kim Calvery.

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managing audits at osu
Managing Audits at OSU
  • OMB Circular A-133 Compliance
  • Agency Specific
  • Most Likely Risk Areas
  • How do you Survive?
  • Office of Inspector General
    • Investigations and Reviews

Kim Calvery

omb circular a 133

OMB Circular A-133

Audits of States, Local Governments, and Non-Profit Organizations

Kim Calvery

what is omb circular a 133 and who is affected
What is OMB Circular A-133 and Who is Affected?
  • Sets standards for obtaining consistency among Federal agencies for the audit of non-Federal entities.
  • Uniform audit requirements for grantees that administer federal awards.
  • The circular is applied whether receiving awards directly or from pass through entities.
  • The circular does not apply to non-US-based entities.

Kim Calvery

the a 133 compliance audit
The A-133 Compliance Audit
  • The Single Audit Act - a cost effective audit that includes the entity’s financial statements and federal awards.
  • Federal awarding agencies must rely on the single audit. Any additional audits must build on work already performed by auditors. The federal agency must cover the full cost of any additional audits.
  • Organization wide audit required if expenditures on federal awards are more than $500,000 annually

Kim Calvery

the a 133 compliance audit1
The A-133 Compliance Audit
  • Includes financial aid – grants and loans.
  • The costs of the A-133 audit are allowed as an F&A charge, if institution subject to the circular.
  • Risk based audit approach by major program (CFDA code).
  • The audit must be performed in accordance with Government Auditing Standards.
  • Covers all operations, including financial statements and Schedule of Expenditures of Federal awards.

Kim Calvery

a 133 compliance audit considerations
A-133 Compliance Audit Considerations
  • Important to make distinction between vendors and subrecipients.
    • Subrecipients are subject to A-133.
    • Vendors are not subject to A-133.
  • See handout titled “Is This a Subaward (Subcontract, Subgrant) or a Procurement?”
  • Audit findings may include questioned program costs. Any disallowed costs must be refunded.

Kim Calvery

a 133 compliance audit considerations1
A-133 Compliance Audit Considerations
  • If the auditee is a subrecipient, a copy of the audit report must be submitted to pass through entities, if there were any findings.
  • If no findings, notification to the pass through entity of the audit completion is sufficient.
  • Auditee is responsible for preparing a corrective action plan, taking corrective actions on audit findings and reporting the status of corrective actions in subsequent reports

Kim Calvery

agency specific
Agency Specific
  • Award agency audits specific project
    • Site review
    • Close-out of award
  • Audit may be completed by:
    • Award agency
    • Office of Inspector General
    • Cognizant audit agency
    • Independent contracted audit firm

Kim Calvery

what is audited
What is Audited?
  • Internal Controls –
    • Effectiveness and efficiency of operations.
    • Reliability of financial reporting; transactions properly recorded and accounted for.
    • Compliance with applicable laws and regulations.
    • Funds, property and other assets are safeguarded against loss from unauthorized use or disposition.

Kim Calvery

a 133 compliance audit considerations2
A-133 Compliance Audit Considerations
  • Audit reports are public record.
  • Audit results are maintained by the Federal Audit Clearinghouse.
  • The Clearinghouse is the central collection point, repository and distribution center for single audit reports.
what is audited1
What is Audited?
  • Compliance with Regulations:
    • Allowable costs and activities
    • Cash management issues
    • Cost sharing requirements
    • Financial and technical reporting

Kim Calvery

areas that auditors may review but are not limited to
Cost Sharing

Equipment

Budget Revisions

Transactions within dates of award

F&A rate applied

Student timesheets signed

Reports required and dates submitted

Subcontracts

Program Income

Tuition remissions

Effort reporting documentation

Recharge (service) centers

Areas that auditors may review: (but are not limited to)

Kim Calvery

preparing for the audit opaa responsibilities
Preparing for the Audit –OPAA Responsibilities
  • Get details of the audit scope, in advance
  • Review all files that are selected
  • Pull all relevant documents
    • May need help from Business Center staff
  • Meet with PI’s and accounting staff
  • Gather policies and handbooks
  • Be prepared and organized!

Kim Calvery

included in the single audit report
Included in the Single Audit Report
  • The financial statements
  • A schedule of expenditures of Federal awards (SEFA)
  • Auditor’s opinions on fair presentation
  • Auditor’s report on internal controls and compliance
  • Auditor’s schedule of findings and questioned costs

Kim Calvery

management responsibility after audit
Management Responsibility After Audit
  • Evaluate audit findings
  • Create corrective action plan, if needed
    • May require cooperation with Business Center management
  • Issue a written decision as to what corrective action will be taken
  • Keep summary schedule of prior audit findings and completed corrective action plans

Kim Calvery

dhhs oig
DHHS - OIG

Department of Health and Human Services (DHHS) Office of Inspector General (OIG) Work Plan Fiscal Year 2009

http://oig.hhs.gov/publications/docs/workplan/2009/WorkPlanFY2009.pdf

Kim Calvery

purpose of work plan
Purpose of Work Plan
  • Identifies vulnerabilities of DHHS programs
  • Promotes improvement, efficiency and effectiveness
  • Dynamic, year-round process
  • Priorities shift according to Congress, the President, and the Secretary

Kim Calvery

purpose of oig
Purpose of OIG
  • Don’t duplicate previously completed studies
  • Identify and evaluate audits, and inspections
  • Determine effectiveness of management actions to correct deficiencies

Kim Calvery

mission activities
Mission Activities
  • Program audits
    • Financial and performance
    • Are objectives being achieved?
    • Are programs performed efficiently?
    • Identification of system weaknesses
    • Fraud, Waste or Abuse

Kim Calvery

mission activities1
Mission Activities
  • Program Inspections
    • Program and management evaluations.
    • Focus on specific areas of concern
      • Department, Congress, or Public
    • Focus on programs with significant expenditures
    • Results offer specific improvement recommendations

Kim Calvery

mission activities2
Mission Activities
  • Investigations
    • Fraud and/or misconduct suspected
    • Concentrate on criminal investigations
    • Identify systemic weaknesses
    • Recommend corrective management action
    • Recommend regulations
    • Recommend legislation
    • Pursue criminal convictions
    • Recover damages and assess penalties
    • Conduct civil and administrative proceedings

Kim Calvery

mission activities3
Mission Activities
  • Legal Counsel
    • Judicial and administrative resolution of fraud and abuse
    • Litigation
    • Develops voluntary compliance program guidance
    • Issues special public fraud alerts
    • Provides legal services to OIG
    • Impose administrative sanctions
      • Program exclusions
      • Monetary penalties

Kim Calvery