OMB Posts New Recovery Act Audit Guidance
OMB has published additional guidance for auditing Recovery Act programs and signaled that even more is on the way.
The guidance was published as an addendum to the 2009 OMB Circular A-133 Compliance Supplement and is now available on OMB’s website. The guidance goes into detail on a number of issues related to auditing these new programs, such as checking allowable and unallowable activities. However, it still does not address one of the more complicated areas of Recovery Act program administration: reporting.
OMB says “at this time, the reporting area indicates only that more substantive coverage of ARRA reporting will be covered in the next Compliance Supplement addendum.”
We’ll let you know as soon as that additional addendum is released.
If you’re interested in learning more about federal grants auditing, check out Management Concepts’ two-day course, Audit of Federal Grants and Cooperative Agreements. Also, our annual Federal Grants Update course is still being offered in locations around the country.