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OMB Responsibilities. OMB will review Federal agency regulations and implementation of this Circular, and will provide interpretations of policy requirements and assistance to ensure uniform,...
2 cfr part 200, appendix xi. compliance supplement. june 2016. executive office of the president office of management and budget
American Recovery and Reinvestment Act (March 22, 2010)) located at the OMB Management website (http://www.whitehouse.gov/omb/management) have significant implications for audits performed under OMB Circular A-133. The ARRA imposes new transparency and accountability requirements on Federal awarding agencies and their recipients. The single audit
OMB Circular A-133 (68 FR 38401) to increase the audit threshold to an aggregate expenditure of $500,000 in Federal funds and to make changes in the thresholds for cognizant and oversight agencies.
In 1990 OMB Circular A-133 was issued where the Single Audit Act was expanded to cover non-profit organizations including Institutes of Higher Education (IHEs) who received over a dollar threshold.
On June 27, 2003, OMB amended Circular A-133 (68 FR 38401) to increase the audit threshold to an aggregate expenditure of $500,000 in Federal funds and to make changes in the thresholds for cognizant and oversight agencies. Those changes took effect for fiscal years ending after December 31, 2003.
25 kwi 2016 · Single Audit, previously known as the OMB Circular A-133 audit, is an organization-wide financial statement and federal awards’ audit of a non-federal entity that expends $750,000 or more in federal funds in one year.
