Risk assessment for your own organization is difficult; subrecipient monitoring adds another complication. Here's a tool to design subrecipient risk assessments and ace the single audit.
Risk assessment is required for the distribution of Federal funding and can help you make informed decisions about awarding. Organizations awarding Federal pass-through funds to subrecipients are responsible for their subrecipient’s budget and compliance, have an obligation to monitor their performance, and to take action to ensure Federal funds are spent in a necessary and reasonable manner. Many of the problems that arise with subrecipient monitoring during the life of an award could be circumvented if pass-through entities had a more comprehensive understanding of any issues that could be associated with a subrecipient early in the process.
There are multiple ways to conduct risk assessment for your own organization, adding subrecipients can complicate risk assessment even more. To help assure you ask subrecipients the right questions, we have designed a Subrecipient Monitoring Risk Assessment Tool to get you started.
To learn more about Subrecipient Monitoring Risk Assessment get an instant download of the tool below.