In a recent update to the Office of Management and Budget’s (OMB) Circular A-123, Appendix A, a clear shift was made to remove the rigidity and prescriptive nature of its predecessor, Internal Control Over Financial Reporting. The new title, Management of Reporting and Data Integrity Risk, gives insight into the increased focus on data quality and alignment with Enterprise Risk Management practices, which means agencies will now likely need to put in additional processes to provide assurance over controls related to all reporting, not just financial. This makes it more important than ever for management to take a proactive approach to assessing and improving the effectiveness of internal controls.
Join us for this 60-minute webinar where guest speaker Sean Vineyard, Director of the Federal Advisory Practice at 11th Hour Service and Shelby Seip, Public Sector Account Executive at ACL, will discuss the details of the Appendix A changes, the immediate impacts of the update, and what you need to be aware of as the changes unfold over the next three years. This webinar will also cover:
- New requirements based on the update
- Implications to current internal control programs, including programs previously not in the scope of Appendix A
- How these new requirements will affect all of the public sector—including those organizations leveraging federal guidance for internal controls and ERM
- Ways organizations can create a strategy to leverage technology to enable compliance with the new requirements