The session will help you understand the different types of rate agreements and the risks associated with each type of rate. In addition, it will give you a better perspective on the best and most practical approach for auditing indirect costs under the single audit. We will discuss how rate calculations are prepared and the risk areas associated with many indirect cost rates and the most common unallowable costs in a calculation and where to find them. We expect this to be an interactive session so bring your questions!
• Understand the different types of rates and rate agreements and the risks associated with each one
• Determine when a liability may be appropriate regarding indirect costs
• Identiry common indirect cost rate questions and risks for auditors and grantees
• Recognize the allowability of certain high risk costs and how to treat and audit such costs