This course is designed for auditors who have or may become involved with contractor oversight responsibilities for Federal financial audits, and will address the following questions.

• Why is there such a concern about contractor oversight ?

• How should Inspector General auditors perform oversight?

• What responsibility does the Inspector General have when financial statement audits are contracted out to Independent Public Accountants?

• What type of training is required to effectively perform contractor oversight duties?

Upon completion of this course, the participant will be able to:

• Describe contractor oversight responsibilities,

• Describe required coordination and control efforts between contracting and IG oversight personnel,

• Understand legal responsibilities of Contracting Officer Technical Representatives,

• Discuss potential problem areas and challenges in performing oversight,

• Understand the audit procedures that the IPA is contractually required to perform, and

• Have sufficient knowledge of the required audit effort to realistically assess the quality of the work performed by the IPA.

New or experienced auditors who may perform or are currently performing contractor oversight responsibility. 

Prerequisite: At least 2 years of financial audit experience is recommended.

Field of Study: Accounting and Auditing

Course Level: Intermediate