2011 OMB Circular A-133 Compliance Supplement Delayed

April 27, 2011 | By Jerry Ashworth | Post a Comment

Okay, so maybe we were a bit hasty in congratulating the federal government for getting out guidance in a timely manner.

Two weeks ago, we posted that the Office of Management and Budget had told us that it planned to issue the 2011 OMB Circular A-133 Compliance Supplement by April 15. We praised the OMB for issuing it so near the March 31 target date that the OMB had told the Government Accountability Office.

Now, OMB officials are telling us that they “hope” to release it next week. That puts us into May. With each passing day, auditors are losing valuable guidance needed in conducting their audits. If the audit community is now prohibited from seeking extensions for submitting their single audits, it is imperative that the compliance supplement be issued in a timely manner.

The OMB’s Gil Tran will be speaking at the National Grants Management Association’s annual conference next week in Hershey, Pa. Hopefully he will have some good news about an official release of the compliance supplement.

What compliance information is critical to you when going through the single audit process? How do delays in releasing the compliance supplement affect your organization? Let us know.

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