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Latest News

OMB Issues Long Awaited Grant Reform Rules

After much anticipation and discussion, the U.S. Office of Management and Budget (OMB) issued Federal grant reform rules on December 26, 2013. These modifications aim to streamline guidance on administrative requirements, cost principles, and audit requirements for federal awards. These changes are effective for single audits of periods ending on or after December 31, 2015.

The changes can be summarized as follows:

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Out with the Old and in with the New York Non-Profit Revitalization Act
Foreign Reporting Updates That Won’t Tax Your Brain
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