Presented by Sarah Hluchan and Tom Devine, Management Concepts

When you review your grantees’ single audit during pre-award risk assessment--do you know what you’re looking for? What does ‘unmodified’ opinion mean? Do you need to be concerned about that material weakness? What about those questioned costs? This session decodes the language of the single audit, providing participants with a new understanding of what findings means and where potential risks lie. We will then discuss how to effectively leverage this knowledge when awarding grants.

Learning Objectives:

• Understand how to navigate and mine key information from a single audit

• Discuss and define basic audit terms, such as ‘modified opinion’ and ‘material weakness’ to understand what these findings can mean for your grantees

• Explore how specific conditions can be used to mitigate risk in response to audit findings