Management and Budget Office December 2007 – Federal Register Recent Federal Regulation Documents

The Office of Management and Budget (OMB) requests comments on the Draft Joint Report on the Review of the Application of European Union (EU) and United States (U.S.) Regulatory Impact Assessment Guidelines on the Analysis of Impacts on International Trade and Investment. The full Draft Report is available at https:// www.whitehouse.gov/omb/inforeg/regpol.html#opp. This joint draft report was prepared by the Secretariat General of the European Commission and the OMB's Office of Information and Regulatory Affairs (OIRA) as part of an EC-OMB dialogue on methodological issues for consideration at the November 9th, 2007 meeting in Washington, DC of the U.S.-EU Transatlantic Economic Council.

In compliance with the Paperwork Reduction Act of 1995 (44 U.S.C. 3501, et seq.), the Office of Management and Budget (OMB) invites the general public and Federal agencies to comment on a renewal of an information collection with revisions that would affect two types of entities: (1) The reports of auditors to auditees concerning audit results, audit findings, and questioned costs, and (2) reports from auditees to the Federal Government providing information about the auditees, the awards they administer, and the audit results. These collection efforts are required by the Single Audit Act Amendments of 1996 (31 U.S.C. 7501, et seq.) and OMB Circular A-133, ``Audits of States, Local Governments, and Non-Profit Organizations.'' Included as part of this information collection is the Data Collection Form (SF-SAC). The changes being proposed are to modify the data elements collected on the SF-SAC to update the internal control terminology and related definitions used in OMB Circular A-133, ``Audits of States, Local Governments, and Non-Profit Organizations,'' the American Institute of Certified Public Accountants and the Government Accountability Office. The current Form SF-SAC is being used for audit periods ending in 2004, 2005, 2006 and 2007. A revised Form SF-SAC will be used for audit periods ending in 2008, 2009, and 2010. Additionally, OMB is interested in receiving comments on the requirement to submit the Data Collection Form (SF-SAC) and the single audit reporting packages electronically. Currently, more than 87% of the SF-SAC are filed electronically. Electronic submission would streamline the submission process, reduce the administrative burden and satisfy the Bureau of Census to fully comply with the Government Paperwork Elimination Act (Pub. L. 105-277).