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?