OMB Issues More Recovery Act Guidance; Focuses on Audits
Just days before the next Recovery Act reporting cycle begins, OMB has issued further reporting guidance for federal agency personnel and recipients. In the March 22 memo, OMB addresses data quality, technical issues, and the importance of single audits, among other topics.
Some of the specific items covered in the memo include the actions federal agencies must take during the new “continuous corrections” phase of the reporting cycle, a new category of data quality that federal officials must now review, immediate actions that should be taken to review and act on single audit findings, and for recipients, technical issues such as when a report is considered to be the “final” report.
And in the area of single audits, there is an interesting note. Because of the need to quickly review and act on audits, OMB has told federal agencies not to grant any requests for A-133 filing extensions.
OMB says it realizes the April reporting period is fast approaching and that it will respond to questions and concerns in a timely manner.
You can download the new guidance here.