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The OMB also provides detailed explanations, discussions, and guidance about them in the OMB A-133 Compliance Supplement. Compliance requirements are only guidelines for compliance with the hundreds of laws and regulations applicable to the specific type assistance used by the recipient, and their objectives are generic in nature due to the ...
The OMB A-133 Compliance Supplement is a large and extensive United States federal government guide created by the Office of Management and Budget (OMB) and used in auditing federal assistance and federal grant programs, as well as their respective recipients. It is considered to be the most important tool of an auditor for a Single Audit.
The auditor is responsible for conducting the actual audit of the recipient in accordance with Generally Accepted Government Auditing Standards (GAGAS) [38] and using the guidance provided by the OMB Circular A-133 and its Compliance Supplement, all of which establish certain rules to follow during the Single Audit. The auditor must establish ...
The Federal Audit Clearinghouse (FAC) is an office within the United States federal government.In compliance with the U.S. Office of Management and Budget (OMB) Circular A-133 Revised, the FAC is in charge of receiving, processing and distributing to U.S. federal agencies the Single Audit reporting packages of thousands of recipients of federal assistance.
OMB Bulletin No. 17-03, Audit Requirements for Federal Financial Statements; OMB Bulletin M07-02, Bulletin for Agency Good Guidance Practices, 72 Fed. Reg. 43432 (Jan. 25, 2007) OMB Bulletin M05-03, Information Quality Bulletin for Peer Review; OMB Bulletin B01-09, Form and Content of Agency Financial Statements
The Generally Accepted Government Auditing Standards (GAGAS), commonly referred to as the "Yellow Book", are produced in the United States by the Government Accountability Office (GAO).
The Office of Federal Financial Management (OFFM) is a component of the United States Office of Management and Budget (OMB), which is part of the Executive Office of the President of the United States (EOP). The President of the United States appoints the controller, who serves as the chief officer of OFFM.
One of the best-known examples of an agency supplement is the Defense Federal Acquisition Regulation Supplement (DFARS), used by the Department of Defense, which constitutes Chapter 2. Chapter 3 is the Department of Health and Human Services Acquisition Regulation (HHSAR); Chapter 4 is the Department of Agriculture's Acquisition Regulation ...