Summary of Federal Laws
OMB Circulars
OMB Circular A-133
Audits of Institutions of Higher Education and Other Non-Profit Institutions
This circular sets forth the audit standards for colleges and universities.
See 68 Fed. Reg. 38401 (June 27, 2003) for final revisions to Circular A-133 effective for for fiscal years ending after December 31, 2003. The purpose of these revisions is to (1) increase the threshold for audit from $300,000 to $500,000, (2) increase the threshold for cognizant agency for audit from $25 million to $50 million, and (3) make related technical changes to facilitate the determination of cognizant agency for audit and provide for Federal agency reassignment of oversight agency for audit. Early implementation will not be permitted with the exception of the amendment to the definition of oversight agency for audit in Circular A-133, section --.105. The amendment to the definition of oversight agency for audit is effective July 28, 2003.
OMB Circular A-133 Compliance Supplement March 2008
updated 5/14/09 to check links, add compliance partner
compliance box links updated 6/10/09 rab
updated 6/21/09 to add related policy Last Revised 21-Jun-09 02:58 PM.
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