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This final guidance superseded and streamlined the requirements from OMB Circulars A-21, A-87, A-110, and A-122 (which have been placed in OMB guidance); [4] Circulars A-89, A-102, and A-133; and the guidance in Circular A-50 on Single Audit Act follow-up. [5]
Circular A-131: Value Engineering, issued 26 January 1988, revised 21 May 1993 [2] and 26 December 2013. Contains guidance to support the sustained use of value engineering by federal departments and agencies; Circular A-133: Audits of states, local government and non-profit organizations: see OMB A-133 Compliance Supplement
The OMB A-133 Compliance Supplement is divided into 7 divisions: Part I: Background, Purpose, and Applicability – Presents a brief description of the history of the Single Audit, defines the purpose of the OMB Circular A-133, and establishes where and why the Single Audit applies.
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.
The Office of Management and Budget (OMB) is the largest office [a] within the Executive Office of the President of the United States (EOP). OMB's most prominent function is to produce the president's budget, [2] but it also examines agency programs, policies, and procedures to see whether they comply with the president's policies and coordinates inter-agency policy initiatives.
In 1985, the United States Office of Management and Budget (OMB) issued OMB Circular A-128, "Audits of State and Local Governments," to help recipients and auditors implement the new Single Audit. In 1990, OMB administratively extended the Single Audit process to non-profit organizations by issuing OMB Circular A-133, "Audits of Institutions of ...
Required by OMB Circular A-130, Appendix III, security accreditation provides a form of quality control and challenges managers and technical staffs at all levels to implement the most effective security controls possible in an information system, given mission requirements, technical constraints, operational constraints, and cost/schedule ...
In addition, CPA firms that perform local government financial audits that include an A-133 "single audit" must follow yellow book standards. In addition to financial audits, the Yellow Book standards cover Performance Audits, which evaluate the performance of a program or project against defined objectives, such as objectives for efficiency ...