what to expect when you’re expecting…a cpb audit
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What to Expect When You’re Expecting…a CPB Audit. By Mary Lewis. What to know…. General Provisions and Eligibility Criteria for both TV & Radio Certification Requirements for Station Grants Recipients. Audit Letter. Confirms Audit Objectives Introduces auditor Outlines the scope of work - PowerPoint PPT PresentationTRANSCRIPT
What to Expect When You’re Expecting…a CPB Audit
ByMary Lewis
What to know….
• General Provisions and Eligibility Criteria for both TV & Radio
• Certification Requirements for Station Grants Recipients
Audit Letter
• Confirms Audit• Objectives• Introduces auditor• Outlines the scope of work• Requests initial information available upon
arrival
Discreet Accounting
• All revenue received from CPB in one account• All expenses paid using CPB grant money
located in one report• Ability to print immediate reports showing
above
Audit Procedures
• Audit Procedures for Reporting NFFS
• Gaining an Understanding of Internal Controls
• Fraud Risk Questionnaire
The Financial Report Map
• AFR • Annual Audited Financial Statement• Trial Balance• General Ledger Accounts
• (map)
General Ledger Accounts
• All accounts that relate to any number that is used to calculate your NFFS dollars
• All revenue accounts • All expense accounts that were paid by CSG
funds• All in-kind donation accounts that were
reported as NFFS
Revenue Accounts
You will need to provide:• Original Contract with signatures• Invoicing work order• Invoice• Copy of check or form of payment received• Deposit form• Bank statement showing deposit of funds
Expense Accounts
You will need to provide:• Invoice/bill• Purchase order or proof of authorized
purchase• Copy of check or form of payment• Bank statement showing check cleared
Annual Dues/Fees
• Letters from PBS, NPR, American Public Media, etc. stating your annual dues/fees
• Service Contracts• Rent/Lease Contracts• All Vendor Contracts
Independent Accountant
• Obtaining audit work papers • Attestation Function
Policies/Procedures
Policies & Procedures Manual Employee Handbook Corporate Policies Board of Directors By-Laws
Communications Act
• Open Meetings• Open Financial Records• CAB• Equal Employment Opportunity• Donor List/Political Activities
Time Sensative
• Divisions of Audit
• Time Frames
• Preliminary Observations
Correspondence
• Notification Letter
• Draft Audit
• Determination Letter
• Required Actions
Questions?