The Government Accountability Office (GAO) “exists to support the Congress in meeting its constitutional responsibilities and to help improve the performance and ensure the accountability of the Federal Government for the benefit of the American people.” That seems like an awesome responsibility, and looking through GAO’s Performance and Accountability Report Fiscal Year 2019, you see […]
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When you consider that each fiscal year the Federal Government appropriates trillions for projects, programs, and operating budgets, it is easy to see that there might be opportunities for misuse of funds. According to the Government Accountability Office, (GAO), a person commits fraud when they attempt to obtain something of value through willful misrepresentation. But what does that look like in day-to-day operations? Let’s examine some recent earth-shattering to seemingly minor examples that should put fraud in perspective.
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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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