Memorandum: OMB Circular No. A-123, Management’s Responsibility for Enterprise Risk Management and Internal Control : Office of Management and Budget (OMB) , July 15 , 2016
Memorandum: OMB Circular No. A-123, Management’s Responsibility for Enterprise Risk Management and Internal Control : Office of Management and Budget (OMB) , July 15 , 2016
From the document: "The Administration has emphasized the importance ofhaving appropriate risk management processes and systems to identify challenges early, to bring them to the attention of Agency leadership, and to develop solutions. To that end, the Office of Management and Budget (OMB) is updating this Circular to ensure Federal managers are effectively managing risks an Agency faces toward achieving its strategic objectives and arising from its activities and operations. These expanded responsibilities reinforce the purposes of the Federal Managers' Financial Integrity Act (FMFIA) and the Government Performance and Results Act Modernization Act (GPRAMA), and support the Administration's commitment to improve the efficiency and effectiveness of Government. Since 1981, OMB Circular No. A-123 (A-123) and FMFIA have been at the center of Federal requirements to improve accountability in Federal programs and operations. Over the years, government operations have changed dramatically, becoming increasingly complex and driven by changes in technology. At the same time, resources are constrained and stakeholders expect greater program integrity, efficiency and transparency into government operations."
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