| Dear Center Members: |
| This GAQC Alert informs you that the U.S. Office of Management and Budget (OMB) has posted an early release of proposed revisions to 2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the Uniform Guidance). |
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Uniform Guidance Revisions
OMB has posted an early release of proposed revisions to the Uniform Guidance regulation on the OMB Web site. A formal Federal Register (FR) notice is expected within the next two weeks. Comments will be due 60-days after the FR notice is released. One key change is that OMB is proposing to increase the audit threshold to $1 million from $750,000. The GAQC will be evaluating this proposal in more detail in the coming weeks. Watch for future communications and updates. In the meantime, we are making you aware of the release of this proposal so that you can begin reviewing it. You may also want to make your clients aware as many of the proposed revisions are relevant to them.* * * * *
Sincerely,
AICPA Governmental Audit Quality Center |
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| In This Alert |
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| Yellow Book Independence |
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| Additional Resources |
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| Stay Informed |
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