Getting Ready for the Audit

Wednesday, December 15, 2021 - 9:00am

Getting Ready for the Audit

Wednesday, December 15, 2021

Preparing for an ODOD Audit

The Ohio Department of Development is conducting a financial compliance audit of the federal and state grants they awarded to you.  Now what do you do?  This session will provide guidance from the scheduling of the ODOD audit, through the auditing process and the issuance of the audit report.

Agenda

Scheduling the audit

Auditor planning

Audit process/initial requests for documents 

Audit process - continued 

Request for documents 

Audit process - continued 

Report

Trainer:  Teresa (Terry) L. Edwards

A Teresa (Terry) L. Edwards, CPA has been working in the government and not-for-profit areas for almost forty (40) years.  The majority of those years were spent conducting financial compliance audits of entities receiving federal and state grants ranging from $25,000 to $100 million.  The audits included accuracy of reporting, determination of allowable costs and activities, cash management, assessing internal controls, reviewing indirect costs and monitoring of subrecipients.

Ms. Edwards is well versed on 2 CFR 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards.  She has conducted numerous trainings on that guidance for units of government, not-for-profit entities and state agencies.  Some of her other training topics include governmental and not-for-profit accounting issues, financial management with federal and state grants, cost allocation and budgeting. 

As a prior employee of the State of Ohio, Ms. Edwards was often involved with the development of grant guidance for new federal awards and state grants.  She also assisted with changes to existing guidance to allow for more accountability and transparency.

Ms. Edwards is currently working as a Senior Auditor/Compliance Consultant with Zeno, Pockl, Lilly and Copeland, A.C.  In that position she audits federal compliance of grants and provides technical assistance and consulting.

She is a graduate of the Ohio State University and holds a valid CPA license in Ohio.