Previously-broadcast session FOR INFORMATION ONLY (no CPE credit available for re-watching)
The presentation will address cost accounting requirements for nonprofit entities that hold Federal awards, to include how direct and indirect costs are defined, unallowable costs, and the allocation of indirect costs. The primary focus will be on cost accounting requirements stipulated in the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the “Uniform Guidance”). The presenters will also discuss industry best practices to ensuring compliance with cost accounting requirements, including internal controls, subrecipient monitoring/surveillance, and internal compliance oversight. Last, the presenters will discuss some of the consequences of noncompliance with cost accounting requirements that they have seen from their personal experience, including the disallowance of costs, investigations, terminations, as well as ineligibility for Federal awards.
