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Description

The revised OMB Circular A-123, Appendix A expanded the focus of what agencies must consider to support their annual assurance statements. However, this revision is less prescriptive than the previous version, providing agencies flexibility to focus resources on value-added activities. In this session we will discuss how agencies are keeping Internal Controls over Financial Reporting relevant, as well as expansions into assessing controls over Shared Service entities, Data Act, and Entity Level Controls, among others.

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  FOS: BMO (Business Management & Organization)

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Key Take-aways

Key Takeaways:
Become familiar with the relationship of ICOR, ERM & ICOFR.
Learn how to build upon existing efforts to evolve and develop an agency's program.

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Learning Objectives

-Lessons learned from agencies involved in integrating internal controls with enterprise risk management to expand beyond financial reporting.|
-Best practices