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OMB Documents and Guidance >Memoranda
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Auditing Allocation Transfers Issued By: OMB - Effective Date: 03.23.2007, 0.033k, PDF |
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Abstract:
OMB Circular No. A-136, Financial Reporting Requirements, revised July 24, 2006, changed the financial reporting requirements for transferring, or allocating, budget authority from one entity to another within or to another Federal department (i.e., parent/child reporting). This memorandum clarifies agencies' responsibilities under OMB Bulletin No. 06-03, Audit Requirements for Federal Financial Statements, when auditing allocation transfers in light of this financial reporting requirement.
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