Yellow Book and the New Super Circular (Currently Unavailable)

Author: Alan Anderson

The Office of Management and Budget (OMB) issued the long-awaited “Super Circular” in their final rule to the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. This rule streamlines eight Federal regulations (including OMB Circular A-133) into a single, comprehensive policy guide. While the Super Circular does not entirely change the eight Federal regulations it does include key changes that have important implications for all nonprofit clients that are recipients of Federal grants.

Publication Date: June 2015

Topics Covered

• The goals of OMB in creating the Super
• The structure and key elements of the Super Circular
• Important differences between the Super Circular and the previous circulars
• Audit implications of the Super Circular for nonprofits
• Implementation ideas

Learning Objectives

• Recognize the key changes within the Super Circular
• Identify what your clients will need to do differently in comply with the new requirements
• Recognize audit considerations related to the super circular

Level
Intermediate

Instructional Method
Self-Study

NASBA Field of Study
Auditing (Governmental) (2 hours)

Program Prerequisites
Basic knowledge of the yellow book and OMB

Advance Preparation
None