How to Implement Audit Requirements under CFR 200 Uniform Administrative Requirements, Cost Principles and Audit Requirements
Late last year, the Office of Management and Budget issued “Uniform Administrative Requirements, Cost Principles and Audit Requirements”, also known as the “Super Circular” or “Omni-Circular,” which is intended to deliver more efficient, effective and transparent government. Chief financial officers and finance directors of nonprofit organizations should understand the impact of this new regulation on their audits.