2003 OMB Compliance Supplement issued.

The U.S. Office of Management and Budget issued its 2003 Compliance Supplement in Mar. The supplement, which is updated each year, identifies important compliance requirements that the federal government expects to be considered as part of an audit in accordance with the Single Audit Act and OMB Circular A-133, Audits of States, Local Governments, and Not-for-Profit Organizations.

Although the primary focus of the work on the 2003 supplement was to update previously included federal programs, it does add several new programs. It also clarifies and adds guidance to the allowable costs/dost principles, eligibility and sub-recipient monitoring compliance requirements. Appendix V of the supplement summarizes all of the changes that were made.

The 2003 supplement is effective for audits of fiscal years beginning after June 30, 2002, and supersedes the previous one issued in Mar. 2002. To purchase a print copy, call the Government Printing Office at 202/512-1800 (stock number: 041-001-00593-5). Or, a free electronic copy can be downloaded from the OMB Web site at: www.whitehouse.gov/omb/circulars/a133_ compliance/03/03toc.html.