Federal Audit Clearinghouse: Role and Responsibilities

The Federal Audit Clearinghouse (FAC), the organization the Office of Management and Budget (OMB) designated to receive single audit reports from federal award recipients, estimates that it will receive about 42,000 single audit reports with a fiscal year end date in 2003. Based on estimates, about 8,200, or approximately 20 percent, are expected to contain audit findings.

The FAC processes incoming reporting packages and related data collection forms, maintains a government-wide database of audits, distributes reports with audit findings to individual federal agencies for audit resolution, and maintains an archival copy of all reports. The FAC provides an efficient and effective method of (1) processing, distributing, and archiving single audit reports; (2) monitoring recipients’ compliance with requirements to submit reports required by the Single Audit Act; and (3) capturing summary information on audit results. The FAC database of all complete data collection form information is accessible to federal agency users and the public through the FAC Web site. You can also complete and submit the data collection form electronically at the site.