A-123

  • The future of risk management

    We’ll all be hearing more in the next few years about risk management, compliance and governance. The Government Accountability Office puts out the Green Book, containing standards for financial control in federal accounting.

  • Developing risk culture

    At the Justice Department, with so many operations, to look at risk on an enterprise level, what does that mean? Risk knowledge starts with line employees and moves all the way up to policy-makers and those establishing the controls.

  • How TSA jump-started enterprise risk management

    As the Office of Management and Budget establishes governmentwide risk management guidelines, the Transportation Security Administration has lessons learned, challenges and metrics from their two-year-old program to share with other agencies to help ease implementation.

  • OMB plays data matchmaker to combat rise in improper payments

    David Mader, OMB controller, said the administration will target specific agencies with new technology to access more data to combat this long-standing challenge. GAO reported Feb. 26 that the governmentwide improper payment rate was 4.02 percent, meaning agencies misspent almost $125 billion in 2014.

  • Census Bureau offers primer on enterprise risk management

    The people-counting agency has learned from some big mistakes. Now, Chief Operating Officer Nancy Potok shares some lessons with Federal News Radio.

  • OMB’s A-123 rewrite to flip risk management on its head

    Mike Wetklow, an Office of Management and Budget official, said the expected changes to Circular A-123 will ask agencies to view risk management in a different way.

  • From 500 to 70, OMB reduces number of financial system requirements

    The Office of Management and Budget rescinds CircularA-127 and issues new guidance to simplify financial system requirements. The goal is to improve quality, utility and the reliability of federal financial information.

  • OMB following a familiar path as it shapes new financial internal controls

    The Office of Federal Financial Management is updating Circular A-123 to focus on risk management and data-driven decision-making. OFFM also plans on rescinding the financial systems requirements circular, A-127, in the coming weeks.