In July of 2018, the long-anticipated revision of the Government Accountability Office’s (GAO’s) Generally Accepted Government Auditing Standards (GAGAS), commonly referred to as The Yellow Book, was released. It provides auditors with professional qualification guidelines and generally accepted government auditing standards for performing audits, including reporting and quality control.
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The Government Accountability Office (GAO) publishes Standards for Internal Control in the Federal Government (also known as the Green Book), which defines, among other things, four principles of risk assessment. In short, they are:
1. Define objectives and risk tolerances
2. Identify, analyze, and respond to risks
3. Assess fraud risk
4. Identify, analyze, and respond to change
One of the themes in the President’s Management Agenda (PMA) focuses on eliminating the discrepancy between the American people’s experiences dealing with the private sector and their experiences interacting with the Federal Government. For many Federal Agencies, bridging this gap will require an overhaul of information technology (IT) assets and processes.
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I recently had the opportunity to represent Management Concepts at the Association of Government Accountants’ National Leadership Training (NLT) event at the Ronald Reagan Building in Washington, D.C. This two-day event is designed to develop and train government financial professionals to excel as leaders. Featured speakers included Dave DeLong, President, Smart Workforce Strategies and Mark Updegrove, CEO, National Medal of Honor Museum. The event drew hundreds of CEO’s, CFO’s, senior executives, PhD’s, CPA’s, senior managers, and future leaders from Federal, state, and local organizations across the U.S.
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The end of the Federal fiscal year is well on its way, and that means funds may be made available to certain programs and activities for obligation before they expire on September 30. These funds usually flow from things that could not be executed as planned, or from reserves for contingencies that never materialized. How […]
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Last week in Boston, over one thousand of the nation’s government financial management professionals convened for expert insights and networking (and CPEs) at the Association of Government Accountants (AGA) annual Professional Development Training (PDT) event.
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