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OMB Prepares to Ratchet Up Enterprise Risk Management
Government Executive: For more than a year, the Office of Management and Budget has been readying an update of the seminal Circular A-123, which provides guidance on agency internal financial controls.
Expected in April, the new version will likely impose new requirements that agencies formalize the discipline known as enterprise risk management. “The timing is really important,” according to longtime agency financial executive W. Todd Grams, now director of the Federal Government Services Practice at Deloitte & Touche LLP. He began a stint this month as president of the Association for Federal Enterprise Risk Management, a professional development group that advocates the approach.
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