As a resource tool for your government agency and its programs, DMP performs financial compliance reviews of Federal grant recipients’ internal controls and financial management systems as it relates to financial activity under a Federal grant award. Our reviews are performed in accordance with generally accepted auditing standards and guidelines set forth by the American Institute of Certified Public Accountants and generally accepted government auditing standards established by the Government Accountability Office (GAO).
We perform procedures to determine whether grantees’ financial management systems and incurred costs charged to the grant are in compliance with federal requirements, including applicable federal cost principles, applicable Federal administrative requirements and terms of the grant agreement(s).
Our firm’s partners have extensive experience with the following OMB Circulars:
- 2 CFR 220 formerly OMB Circular A-21, Cost Principles for Education Institutions
- 2 CFR 225 formerly OMB Circular A-87, Cost Principles for State, Local and Indian Tribal Governments
- 2 CFR 215 formerly OMB Circular A-110, Uniform Administrative Requirements for Grants and Other Agreements with Institutions of Higher Education, Hospitals, and Other Nonprofit Organizations
- 2 CFR 230 formerly OMB Circular A-122, Cost Principles for Nonprofit Organizations
- OMB Circular A-123, Management’s Responsibility for Internal Control
- OMB Circular A-127, Financial Management Systems
- OMB Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations
We also provide technical assistance related to internal controls, policies and procedures, and federal rules and regulations.