So You Got an Audit Finding…Now What? Understanding Findings, Impacts, and Next Steps for Grantees

NGMA AGT Breakout Session

Session Description: Ever wondered what an audit finding really means for your organization?  It can feel like a four-alarm fire — but most of the time, it’s a wake-up call, not a crisis. This session breaks down what an audit finding really means for grantees, how to interpret the language, and what to do next. Using real examples pulled from the Federal Audit Clearinghouse (FAC) Single Audit database, we’ll explore the difference between material weaknesses, significant deficiencies, and compliance findings — and how each affects your organization, funding, and future audits.

Participants will learn how to respond effectively, develop corrective action plans that actually work, and turn audit feedback into operational improvements. Because knowing what a finding means is the first step to fixing it — and staying out of the next one.

Learning Objectives:

This session uses real examples from the FAC database to explain what findings signal, what to do about them, and how to turn audit results into stronger grant performance. By the end of this session, participants will be able to:

1. Decode common audit finding terminology — including material weaknesses, questioned costs, and compliance findings — and understand what each means for grantees.
2. Assess the potential impact of different types of findings on funding, internal controls, and future audits.
3. Develop a practical response strategy, including effective Corrective Action Plans (CAPs) and timely communication with grantors.
4. Interpret real-world examples from the FAC Single Audit database to identify red flags and best practices.
5. Transform audit findings into opportunities for improving compliance, accountability, and performance.

Format: Case Study 60min

Course Level: Beginner. If the words “audit finding” make your pulse quicken, this session is for you. Perfect for new grants managers, fiscal staff, or program leads who want to understand what those findings really mean — and what to do when they show up. No audit experience required, just curiosity and a desire to stay compliant (and calm).

Presenter Information:

Name: Mara Ash, CIA, CICA, CGFM, CMRA, CGAP

Title: CEO, BFS and North American Representative Institute of Internal Auditors, Public Sector Advisory Board