Compliance Supplement definition

Compliance Supplement refers to the North Carolina State Compliance Supplement, maintained by the State and Local Government Finance Agency within the North Carolina Department of State Treasurer that has been developed in cooperation with agencies to assist the local auditor in identifying program compliance requirements and audit procedures for testing those requirements.

Compliance Supplement means UR appendix XI (Compliance Supplement (previously known as the OMB Circular A-133 Compliance Supplement)).

Compliance Supplement means Compliance Supplement for Single Audits of State and Local Governments issued by the Office of Management and Budget or any subsequent revisions.

Examples of Compliance Supplement in a sentence

• The OMB Compliance Supplement is Section A of the State Compliance Supplement.

• If the Compliance Supplement indicates that a type of compliance requirement is applicable and the auditor determines it also is direct and material to the program at the specific entity being audited, the auditor should answer this question “Yes,” and then complete the remainder of the line to document the various risk assessments, sample sizes, and references to testing.

• When Part 2 of the Compliance Supplement indicates that a type of compliance requirement is not applicable, the remaining assessments for the compliance requirement are not applicable.

• Alternatively, if the auditor determines that a particular type of compliance requirement that normally would be applicable to a program (as per part 2 of the Compliance Supplement) is not direct and material to the program at the specific entity being audited, the auditor should answer this question “No.” Along with that response, the auditor should document the basis for the determination (for example, "per the Compliance Supplement, eligibility requirements only apply at the state level").

• Taken form Part 2, Matrix of Compliance Requirements, of the OMB Compliance Supplement.

• These Types are determined by the federal agency, noted as “Y,” on the “Matrix of Compliance Requirements” located in Part 2 of the OMB 2021 Compliance Supplement; however, the State Agency may have added the Type and this is noted by “Y.” If the State determines that the federal requirement does not apply at the local level or if the State modifies the federal requirements, this is noted in the supplement under the type of compliance requirement.

• This compliance supplement should be used in conjunction with the OMB 2020 Compliance Supplement which will be issued in the summer.

• For programs included in the Compliance Supplement, the specific requirements are contained therein.

• This matrix incorporates the OMB Compliance Supplement “Part 2 - Matrix of Compliance Requirement.” A State Agency may have added a compliance requirement that the OMB matrix in Part 2 has a “N” (Not Applicable).

• This compliance supplement must be used in conjunction with the OMB 2021 Compliance Supplement which will be issued in the summer.

More Definitions of Compliance Supplement

Compliance Supplement issued by the U.S. Office of Management and Budget

Compliance Supplement means an an- nually updated authoritative source for auditors that serves to identify exist- ing important compliance require- ments that the Federal Government expects to be considered as part of an audit. Auditors use it to understand the Federal program’s objectives, pro- cedures, and compliance requirements, as well as audit objectives and sug- gested audit procedures for deter- mining compliance with the relevant Federal program. Computing devices means machines used to acquire, store, analyze, process, and publish data and other information electronically, including accessories (or ‘‘peripherals’’) for printing, trans- mitting and receiving, or storing elec- tronic information. See also the defini- tions of supplies and information tech- nology systems in this section. Contract means, for the purpose of Federal financial assistance, a legal in- strument by which a recipient or sub- recipient purchases property or serv- ices needed to carry out the project or program under a Federal award. For additional information on subrecipient and contractor determinations, see § 200.331. See also the definition of subaward in this section.

Compliance Supplement means an an- nually updated authoritative source for auditors that serves to identify exist- ing important compliance require- ments that the Federal Government expects to be considered as part of an audit. Auditors use it to understand the Federal program’s objectives, pro- cedures, and compliance requirements, as well as audit objectives and sug- gested audit procedures for deter- mining compliance with the relevant Federal program. Computing devices means machines used to acquire, store, analyze, process, and publish data and other information electronically, including accessories (or ‘‘peripherals’’) for printing, trans- mitting and receiving, or storing elec- tronic information. See also the defini- tions of supplies and information tech- nology systems in this section.

Compliance Supplement means Circular A-133 Compliance Supplement issued by the OMB, its amendments, or any such documents as OMB or its designee may issue to replace it.

Compliance Supplement means UR appendix XI.