OMB Circular A-133

OMB Circular A-133 was a regulation in the United States that set the guidelines for audits of federal funds received by non-federal entities, such as state and local governments and non-profit organizations. Its main purpose was to ensure accountability and transparency in the use of federal money. The circular outlined requirements for auditing, how to manage funds, and reporting practices to prevent misuse. It emphasized the importance of compliance with federal laws and regulations, ultimately aiming to protect taxpayer dollars and ensure effective government programs. (Note: Circular A-133 has been superseded by the Uniform Guidance, 2 CFR Part 200.)