The 2021 Compliance Supplement is Almost Here!

Big heads up here!!! Stay tuned to the Grants Compliance Expert tomorrow as we will be posting in our Guidance and Regulations section the 2021 Compliance Supplement, as the Office of Management and Budget has unveiled that it will become available on Friday. We will also analyze the document and publish an article in our Top News section addressing some of the key areas of interest within the document.

OMB has notified that this year’s supplement includes five new programs and provides updated audit guidance for many other programs (including 14 COVID-19 programs previously included in the 2020 Compliance Supplement addendum). Similar to last year, because OMB needs more time to address the audit requirements for programs under the American Rescue Plan Act (ARPA), it will issue an addendum to the 2021 Compliance Supplement later this year discussing ARPA awards.

Auditors also should be aware that the 2021 supplement includes an increased emphasis on transparency related requirements, including a requirement for auditors to review the Federal Funding Accountability and Transparency Act (FFATA) subaward reporting requirements, which was required in the 2020 Compliance Supplement addendum for COVID-19 programs and now will be required for all programs, where applicable.

Stay tuned for more information on our website on Friday!!