Uniform Guidance and Grant Accounting: Implementation of Requirements

Description:

Accounting, auditing, and reporting for grants has constantly been evolving.  Changes and updates to the Uniform Grant Guidance, Compliance Supplement, Government Auditing Standards and Standards for Internal Control in the Federal Government mean that grant professionals will need to understand these changes to implement the related standards.  This session will cover the key changes to the guidance on grants and help participants implement the standards.

Learning Objectives:

• Identify the key Uniform Guidance changes as found in the 2024 revision to 2 CFR Part 200.
• Recognize updates to the 2025 OMB Compliance Supplement.
• Determine activities necessary to implement the changes to the Uniform Guidance and Compliance Supplement.
• Discuss the Yellow and Green Books issued by the GAO.
• Discuss the development of risk assessment models for monitoring grants.

Key Takeaways:

• Changes to grant-related guidance are addressed to understand their impacts on your organization better.
• Understand the implications of GAO government auditing standards and internal control guidelines.
• Importance of evaluation of recipient risks and monitoring efforts to safeguard grants