Despite Range of Concerns, Guidance Sets Audit Threshold at $750,000
March 17, 2014 at 06:48:00 ET
The Office of Management and Budget’s grant reform guidance, which becomes effective for federal audits starting Dec. 26, 2014, will raise the single audit threshold for grant recipients and subawardees to $750,000 expended annually on federal awards. Interestingly, the reasoning behind the $250,000 increase in the guidance compared to Circular A-133’s $500,000 threshold is remarka... Read More
