ERIC Number: ED460666
Record Type: Non-Journal
Publication Date: 2000-Mar
Reference Count: N/A
Compliance Supplement. OMB Circular A-133.
Office of Management and Budget, Washington, DC.; Executive Office of the President, Washington, DC.
This document is a supplement to Circular A-133 (1990) from the Office of Management and Budget (OMB), which extended the government's "single audit process" for agencies that administer federal financial assistance programs to higher education institutions and non-profit organizations. This supplement is based on the 1996 Amendments (the Single Audit Act Amendments of 1996 based on the Single Audit Act of 1984 which established requirements for audits of states, local governments, and Indian tribal governments that administer federal financial assistance programs) and the final revision of OMB Circular A-133, "Audits of Institutions of Higher Education and Other Non-Profit Organizations," which provide for the issuance of a compliance statement to assist auditors in performing the required audits. It identifies compliance requirements that the Federal government expects to be considered as part of an audit under the 1996 Amendments. It enables auditors to avoid time-consuming research into the requirements that must be met. The Supplement provides auditors with the federal program's objectives, procedures, and compliance requirements relevant to the audit as well as audit objectives and suggested audit procedures for determining compliance with these requirements. For single audits, the supplement replaces agency audit guides and other audit requirement documents for individual federal programs. The guide is divided into these sections: (1) "Background, Purpose, and Applicability"; (2) "Matrix of Compliance Requirements"; (3) "Compliance Requirements"; (4)"Agency Program Requirements"; (5) "Clusters of Programs"; (6) "Internal Control"; and (7) "Guidance for Auditing Programs Not Included in this Compliance Supplement." Part 4 lists specific requirements for many financial assistance programs of the U.S. Department of Education. Including Title I and TRIO programs, and part 5 contains guidance for Department of Education clusters of programs, including federal student loan programs such as the Perkins, Pell, and Direct Loan programs. Eight appendixes provide additional details, background information, and some internal reference materials. (SLD)
Descriptors: Audits (Verification), Colleges, Compliance (Legal), Federal Aid, Higher Education, Student Financial Aid
U.S. Government Printing Office, Superintendent of Documents, Mail Stop SSOP, Washington, DC 20402-9328. Tel: 202-512-1800. For full text: http://www.whitehouse.gov/omb/circulars/a133_compliance/ 01/01toc.html.
Publication Type: Guides - Non-Classroom
Education Level: N/A
Authoring Institution: Office of Management and Budget, Washington, DC.; Executive Office of the President, Washington, DC.