Understanding Audits and Financial Statements

Year created: 2012
Created by: MBI
This session will highlight OMB A?133 audit requirements, Office of Inspector General audits, and key financial statements, such as Statement of Financial Position, Statement of Activities and the Statement of Cash Flow. Participants will learn the relationship between these audits and their organization’s financial statements, including key ratios used to assess an organization’s financial health. Learn how to prepare for an audit, about audit follow?up and resolution, and how to report fraud, waste, and abuse. This session will also provide guidance to grantees on how to track, review, and resolve subgrantee audit issues.


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