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The supplement, which is updated each year, identifies important compliance requirements that the federal government expects to be considered as part of an audit in accordance with the Single Audit Act and OMB Circular A-133, Audits of States, Local Governments, and Not-for-Profit Organizations. All sides are closely watching the OMB to see how it proceeds. It should also be noted that the standards employed by the OMB study were not excessively rigorous. |
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