The Single Audit Act and OMB Circular A-133
The Single Audit Act of 1984 established requirements for audits of States, local governments, and Indian tribal governments that administer Federal financial assistance programs. In 1996, the Single Audit Act was amended to extend its statutory reach to non-profit organizations. Pursuant to the Single Audit Act, OMB has issued rules and guidelines advising grantees, auditors, and grantor agencies of their responsibilities in connection with annual financial and compliance audits. Those rules and guidelines are found in OMB Circular A-133, which applies to Institutions of Higher Education; Non-Profit Organizations; and States, Local Governments, and Indian Tribal Governments, which will be applicable for grants received before December 26, 2014, and the Supercircular, applicable for grants received on December 26, 2014 and beyond.