January 07, 2005
Finally, Accountability from the Feds - After all it is our money!
Finally, we get to see some controls within the operations of our own federal government. This is necessary and appropriate given the problems with bureacracy and money. This is our money and there should be proper controls on spending.
Excerpt from an article here:
BY David Perera Published on Jan. 6, 2006
Office of Management and Budget officials released late December a document detailing a set of tighter financial controls federal agencies must implement by the start of the next fiscal year.
The new regulations, found in a revised version of OMB Circular A-123, parallel some of the private-sector internal management strictures created by the Sarbanes-Oxley Act of 2002. The changes intend to strengthen the credibility of the annual agency management assessments of financial status the government is required to produce under the Federal Managers' Financial Integrity Act. Those assessments will now be due 45 days after the end of the fiscal year, the revised circular states. For the complete article, click here.
To learn more about effective implementation of internal controls and Section 404, see Sarbanes-Oxley Compliance Playbook(tm) at www.issuescentral.com
Excerpt from an article here:
BY David Perera Published on Jan. 6, 2006
Office of Management and Budget officials released late December a document detailing a set of tighter financial controls federal agencies must implement by the start of the next fiscal year.
The new regulations, found in a revised version of OMB Circular A-123, parallel some of the private-sector internal management strictures created by the Sarbanes-Oxley Act of 2002. The changes intend to strengthen the credibility of the annual agency management assessments of financial status the government is required to produce under the Federal Managers' Financial Integrity Act. Those assessments will now be due 45 days after the end of the fiscal year, the revised circular states. For the complete article, click here.
To learn more about effective implementation of internal controls and Section 404, see Sarbanes-Oxley Compliance Playbook(tm) at www.issuescentral.com
