Shall I Open the Compliance Supplement Discussion?

May 9, 2012 | By Jerry Ashworth | 1 comment

June 21 — mark the date on your calendar. Why, you ask? Because this is when the American Institute of Certified Public Accountants hosts its annual Not-For-Profit Industry Conference in Washington, D.C. What’s so special about that? Well, not only is the conference an excellent opportunity to learn about the latest events in the audit community, it traditionally has been what I like to call the unofficial deadline for the Office of Management and Budget to issue the Circular A-133 Compliance Supplement.

Oh yeah, remember the Compliance Supplement? It has really slipped under the radar this year. At the National Grants Management Association’s recent training conference, all the talk focused around the proposed grant and audit reforms. Nothing was mentioned about the 2012 version of the Compliance Supplement. Usually one of the big questions that gets answered at the NGMA conference is when the supplement will be issued. Not this year.

Over the last 10 years of covering grants management and single audits for Thompson, I’ve noticed that at the NGMA conference, the OMB says the supplement will come out “soon.” And it always seems  that they find a way to actually issue it before the AICPA’s Not-for-Profit conference so that all the auditors in attendance can discuss it there.  However, since the OMB has so much on its plate with the proposed reforms and reviewing the 350-plus comments submitted, does anyone there have the time to put out the Compliance Supplement?

I understand the 2012 version has been a work in progress over the last year, and it probably is awaiting final clearance, but part of me wonders if we can still expect to see it within the next several weeks. Last year, the OMB had said it intended to issued the supplement  earlier in the year — by the end of March — to better assist auditors, but it was not officially released until June 1. I’m sure many of you remember our series of snails from last year — hopefully we can avoid that this year. March and April have already come and gone again this year and we’re still waiting — again! Don’t worry, though, when the Compliance Supplement does finally see the light of day, we’ll make sure you are aware of it here, and further details will be covered in Thompson’s Single Audit Information Service.

Oh, and just for the fun of it, today’s my birthday. Instead of telling people my age, I instead refer to my favorite sports stars. A few years back, for instance, I was Richard Petty’s number. Now, my age is the same as my new favorite Washington Nationals pitcher Gio Gonzalez. I’ll let you figure it out from there.

Have you heard any details about the release of the Circular A-133 Compliance Supplement? If so, let us know.

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  1. [...] mention this because I had been saying for some time now that June 21 was something of an “unofficial deadline” for the Office of Management and Budget to issue the [...]

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