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Auditing Grants - Public Sector

Course Description

Grants are commonly referred to as financial or non-financial contributions, which are awarded to an individual or enterprise and supports a specific cause. Because of the non-exchange nature of grants, oversight and the role of internal audit is critical to ensure legitimate and effective utilization of the awarded resources.

This course provides a comprehensive overview of the grants administration process and the responsibilities assumed by the parties involved. The course also outlines the chronological flow of activities that take place in the various phases of the grants administration and management process. The role of internal audit is defined, and details of the audit approach during an engagement are provided. Finally, the content describes the use of a risk and control matrix as part of the risk assessment process, which identifies risks associated with grant transactions.

Learning Objective(s):

  • Differentiate between grants management and grants administration.
  • Assimilate the grants process and how it relates to the grantor and grantee.
  • Discern the phases of grant management and administration.
  • Recognize critical risks associated with grants management and administration.
  • Recognize the internal auditor’s role in assisting organizations to effectively manage and administer grants.
  • Discern key grant stakeholders for grantees and grantors.
  • Differentiate outputs and outcomes of grant programs.
Course Duration: 2 day(s)
CPEs Available: 2
Knowledge Level: Basic
Field of Study: Auditing
Prerequisites: 
​None
Advance Preparation: 
​None
Delivery Method: QAS Self-Study