The annual OMB Compliance Supplement has long been used by auditors to plan and execute their single audits in accordance with Uniform Guidance. However, the Supplement is just as relevant for auditees as it is auditors in order to be in full compliance with managing federal awards. This session will focus on how the Supplement should be approached and utilized by federal award recipient with the goal of compliance and to pass single audits with flying colors. Areas of focus will include compliance with the 14 requirements, preparation of the SEFA, and best practices for internal controls over compliance.
Understand the requirements of the Compliance Supplement as it applies to auditees
Analyze best practices over documentation and relevant internal controls to achieve compliance in their single audits.