OMB Publishes 2016 Compliance Supplement
9/02/2016
The Office of Management and Budget (OMB) released the annual Compliance Supplement to its Uniform Administrative Requirements, Cost Principles, and Audit Requirements on August 9. The supplement provides detailed guidance for conducting single audits of states, local governments, and nonprofit organizations, including colleges and universities.
The new supplement supersedes the 2015 version and will apply to audits of fiscal years beginning after June 30, 2015. Guidance related to Title IV aid can be found in Part 4, while clusters of programs, including research and development and student financial assistance, are covered in Part 5.
Appendix V of the 2016 Compliance Supplement describes the changes from the 2015 version.
