December 13, 2004
Sarbanes-Oxley for the Federal Government...About Time
Finally, the federal government will be subjected to the same types of regulations that Public Companies are now subject to. This makes a lot of sense when you consider all the "funny money" calculations that governments do around "savings" and budgeting and reporting in general. It is time for more disclosure on how calculations are made. I hope we can stand the shock.
An excerpt on this topic here:
"Federal officials need to better account for government money, according to Office of Management and Budget officials, who plan to release new financial management regulations before 2005.
Stricter financial control standards will be printed in OMB Circular A-123, a revised version of which is in the final stages of internal clearance, said Linda Springer, OMB controller. The circular governs implementation of the Federal Managers' Financial Integrity Act, which requires agency chiefs to issue annual assurances that internal financial controls are functioning properly.
Compliance with the circular's requirements will be mandatory starting in fiscal 2006. "
For a "walk-through" of how your company can more effectively and rapidly comply with Sarbanes-Oxley, see www.issuescentral.com today to see Sarbanes-Oxley Compliance Playbook(tm).
An excerpt on this topic here:
"Federal officials need to better account for government money, according to Office of Management and Budget officials, who plan to release new financial management regulations before 2005.
Stricter financial control standards will be printed in OMB Circular A-123, a revised version of which is in the final stages of internal clearance, said Linda Springer, OMB controller. The circular governs implementation of the Federal Managers' Financial Integrity Act, which requires agency chiefs to issue annual assurances that internal financial controls are functioning properly.
Compliance with the circular's requirements will be mandatory starting in fiscal 2006. "
For a "walk-through" of how your company can more effectively and rapidly comply with Sarbanes-Oxley, see www.issuescentral.com today to see Sarbanes-Oxley Compliance Playbook(tm).
