Federal Funding Compliance: Best Practices for All Organizations
May 31, 2018 –
Hui-Ting Grady, CPA from AAF CPA’s will be speaking this week about what you need to know if your organization receives federal funds, is hoping to do so, or simply wishes to use the federal regulations as a standard for “best practices.”Hui-Ting has extensive experience providing assurance solutions to diverse nonprofit organizations, including: affordable housing development projects with HUD requirements, multi-service human & social services providers, and behavioral health agencies. She delivers audits in accordance with Uniform Guidance/Single Audit and Government Auditing Standards, as well as Uniform Financial Report (UFR) and other funding source regulations. Hui-Ting is dedicated to keeping AAF and clients apprised of regulatory changes and new pronouncements in a proactive and timely manner, as well as providing best practice recommendations for efficient and effective implementations of new accounting standards.
Detecting Fraud – Organizations regularly assess, through annual audits and other processes, whether they have adequate controls in place to prevent fraud but less effort is made to see if fraud is actually taking place. Typically, CFOs and others responsible for safeguarding a nonprofit’s assets have not been educated in what to look for. Often, one hears details of a fraud and the reaction is, “Wow, it never would have occurred to me to look at…” All too often, after a case of fraud has been detected, people reveal that they ignored “red flags” they should have paid attention to.
John Mulvaney, Practice Leader for White Collar and Government Enforcement Practice, Corporate Recovery and Litigation Services at CBIZ will provide concrete information on what you should be reviewing on a regular basis, what are typical “red flags”, and what to pay attention to if you suspect fraud. He will also describe what he, in his role, focuses on in the course of a fraud investigation. John is a former FBI agent and will have many interesting stories to tell us.