Tag Archive | A-133

A Not-for-Profit’s Guide to Upcoming Accounting Changes

We remain in a relatively quiet time for changes in accounting and reporting standards affecting not-for-profit organizations, notwithstanding larger proposals affecting the intermediate and longer term. Some of the near term changes are essentially tweaks to ensure organizations are following standards with consistency rather than having the diversity in practice that can sometimes arise. Despite not having any major changes to report, […]

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Implementing the Uniform Grant Reform Guidance

If you receive federal grants, now is the time to evaluate how you manage them. December 26, 2014 is the start date of comprehensive grant reform which is the result of 2 CFR 200: Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards (Uniform Grant Guidance) which affects all nonfederal agencies that receive grants. Often […]

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Proposed Changes to A-133 Audit Requirements Will Impact Not-for-Profit Organizations

At Mayer Hoffman McCann P.C., we’ve been closely following the federal Office of Management and Budget’s (OMB) initiative aimed at streamlining the Single Audit (A-133 audit) process “to make the most of taxpayer dollars and ensure financial integrity while delivering the right program outcomes.” Last month, the OMB issued for comment its long-awaited major revisions […]

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Key Changes Affecting Your Nonprofit Organization’s A-133 Audit

The Federal Office of Management and Budget (OMB) recently released the final 2012 OMB Circular A-133 Compliance Supplement effective for audits of fiscal years beginning after June 30, 2011. The supplement — among the most critical pieces of guidance related to performing single audits — identifies the important compliance requirements the federal government expects to […]

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