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Every year, the Office of Management and Budget (OMB) issues the 2 C.F.R. Part 200, Appendix XI Compliance Supplement for auditors to follow in determining the compliance requirements that could have a direct and material effect on the programs included in a single audit. The supplement identifies compliance information to help auditors understand each program’s objectives, procedures and requirements, and provides audit objectives and suggested audit procedures for determining compliance.
The 2,105-page 2024 Compliance Supplement, released on May 29, 2024, replaces the 2023 version. In this version, OMB continued to follow its recent trend of releasing the supplement earlier in the year to provide more timely instruction for auditor testing. This year’s supplement applies to audits of federal fiscal years (FY) beginning after June 30, 2023.
This whitepaper addresses five key topics related to the 2024 supplement that are of special interest to auditors and their auditees.
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