OMB Releases 2018 Compliance Supplement

The Office of Management and Budget (OMB) announced the availability of its 2018 Compliance Supplement in the Federal Register on Friday, May 18. Dubbed the skinny  compliance supplement, this version includes only significant updates and changes between 2017 and 2018—meaning auditors will reference the 2017 Supplement in conjunction with the 2018 Supplement.

Codified under Title 2 of the Code of Federal Regulations, Chapter 2, Part 200 (2 CFR 200), Appendix XI, the 2018 supplement is effective for audits of fiscal years beginning after June 30, 2017.

Key Changes

The 2018 Compliance Supplement contains a number of changes, such as:

  • Program additions and deletions
  • Programmatic changes—applicable to only those programs having more substantive changes
  • Updated guidance on procurement

The 2018 supplement doesn’t include new audit objectives and steps around securing student information which the Department of Education has been contemplating adding.

Using the Supplement

Part 1 of the 2018 Compliance Supplement explains how auditors must use it and the 2017 supplement together to perform audits. The table of contents shows where the 2017 supplement has been superseded or continues to be pertinent.

We're Here to Help

For more information on how the OMB’s 2018 Compliance Supplement may affect your organization, contact your Moss Adams professional.