OMB Circular A-136, Financial Reporting Requirements , July 14 , 2025
OMB Circular A-136, Financial Reporting Requirements , July 14 , 2025
From the document: "This Circular provides guidance for Executive Branch entities1 required to submit audited financial statements, interim financial statements, and Performance and Accountability Reports (PARs) or Agency Financial Reports (AFRs) under the Chief Financial Officers Act of 1990 (CFO Act), as amended; the Government Management Reform Act of 1994 (GMRA); and the Accountability of Tax Dollars Act of 2002 (ATDA). This Circular also provides general guidance to Government corporations required to submit Annual Management Reports (AMRs) under Chapter 91 of title 31, United States Code (U.S.C.).
Throughout the Circular, “must” and “will” denote a requirement that management must comply with in all cases, “should” denotes a presumptively mandatory requirement that applies except in circumstances where the requirement is not relevant for the agency, and “may” and “could” denote best practices that may be adopted at the discretion of management. “Government” refers to the United States Federal Government.
“Disclose” and “disclosure” refer to information in the notes to the financial statements, and “recognize” and “recognition” refer to information in the financial statements."
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