OMB Tells Agencies To Take Quick Action on ARRA Single Audits

Washington, March 23 – Federal agencies assessing single audit reports from recipients of American Recovery and Reinvestment Act awards are being directed to take immediate action on them to ensure that all findings are resolved within six months after they are filed with the Federal Audit Clearinghouse.

The Office of Management and Budget March 22 issued Recovery Act guidance that addressed, among other issues, federal agency responsibility for OMB Circular A-133 single audits of Recovery Act programs. Many states, whose fiscal years ended June 30, 2009, will submit their statewide single audits on March 30, 2010. The Federal Audit Clearinghouse processes these submissions and prepares a report summarizing the audit findings by type of noncompliance for all Recovery Act programs.