The 10% de minimis and NICRAs
This module will expand your knowledge about what auditors’ clients might try to do maximize their cost recovery. While all agencies are not yet allowing NICRAs for non-US organizations, this situation might change, and you should be ready. In addition, the CDC is beginning to allow an 8% indirect cost recovery for non-US-based organizations. There might be some unique cost allocation issues to consider. The US State Department (DOS) is allowing the 10% de minimis, but we have seen errors in the calculation of the MTDC base.
This module gets to the point about how a project must be finalized. Auditors and recipients need to know what the compliance deadlines are as well as what costs will be allowed or disallowed. Our experience is that too many recipients end up paying back incurred expenses simply because they did not understand the close-out rules and/or confirm their plans with their Agreement Officers/GMOs.
Learn the 7 Essential Aspects of the Close-out Process
This section explains everything you need to know about:
- Human Resources
- Public Relations
The new “Green Book” requirements
This module focuses on internal controls and gives participants a high-level overview of the Globally accepted Internal Control Framework (COSO) which applies to all US Government implementing partners. While every organization - from NGOs to audit firms to listed companies, etc. needs internal controls, this module highlights the fact that every organization will have different controls based on its management structure, objectives, risk profile, and stakeholder reporting requirements. This module explains different internal control environments and discusses why every internal control system may be different.
Sub-recipient Management, Sub-Agreement Preparation and Sub-Auditing
For auditors, if your client is a prime recipient, with sub-recipients, your client has significant responsibilities which are subject to audit. This module will discuss how to navigate complex situations such as when another audit firm is conducting the sub-recipient audit and your firm is auditing the prime recipient and vice versa.
For recipients, this module expands upon a lot of important USG requirements where we believe the current USAID guidance (Mandatory Standard Provision RAAP 8 – Subawards) does not really go far enough to explain what is necessary. This module makes it clear about what we believe is necessary to manage subrecipients and protect prime recipients from unnecessary audit findings.
Ethics/Conflict of Interest/Fraud
The Uniform Guidance has specific rules on these. This module covers areas of compliance, as well as methods about how to prevent breaches of ethics, conflict of interest and/or fraud from occurring in the first place. Compliance is critical and auditors are expected to be aware of any situations where fraud could take place.
Suspension and termination of your clients can occur if they do not comply.