Threshold triggering audits of federal awards raised.

• Position: OMB News; Office of Management and Budget - Brief Article

The threshold triggering single audits of federal awards has been raised from $300,000 to $500,000, under revisions to OMB Circular A-133, Audits of States, Local Governments and Non-Profit Organizations.

The rule is effective for fiscal years ending after Dec. 31, 2003.

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