OMB Circular A-123 and Sarbanes-Oxley: Management's Responsibility for Internal Control in Federal Agencies - Hardcover

Tierney, Cornelius E.; Kearney, Edward F.; Fernandez, Roldan; Green, Jeffrey W.; Ramos, Michael J.; Kearney & Company

9780471768135: OMB Circular A-123 and Sarbanes-Oxley: Management's Responsibility for Internal Control in Federal Agencies

Hardcover

ISBN 10: 0471768138 ISBN 13: 9780471768135

Verlag: John Wiley & Sons Inc, 2006

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Book by Tierney Cornelius E Kearney Edward F Fernandez Rol

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Rese�a del editor:

How is A-123 different from Section 404 of the SOX Act? What is required of federal agencies with the revision of A-123? The definitive guide for federal compliance with OMB Circular A-123 and SOX Section 404, OMB Circular A-123 and Sarbanes-Oxley: Management's Responsibility for Internal Control in Federal Agencies leads readers through every step of the planning, evaluation, testing, and reporting/collecting of processes associated with OMB Circular A-123 and SOX Section 404 compliance, including: Internal control criteria Internal control assessment: project planning Identifying significant control objectives Documentation of significant controls Testing and evaluating entity-level controls and activity-level controls The result of numerous consultations over many years with accountants, auditors, financial managers, and systems consultants specializing in the financial management issues of the federal government, this hands-on guide quickly brings you up to speed on the latest revisions and rules in federal financial internal control requirements.

Nota de la solapa:

Effective fiscal year 2006, federal agencies are required to comply with OMB Circular A-123, the public-sector mirror of the Sarbanes-Oxley Act (SOX), issued by the U.S. Office of Management and Budget (OMB). Building on more than two decades of practices stemming from the Federal Managers' Financial Integrity Act of 1982, Circular A-123 is not the kind of revolution for government accounting that SOX was for the private sector. Even so, it significantly increases the scope of the regulation and the responsibilities of federal managers at all levels.

OMB Circular A-123 and Sarbanes-Oxley: Management's Responsibility for Internal Control in Federal Agencies equips readers with information on complying with OMB Circular A-123 and Section 404 of SOX in a highly accessible, simple, and practical presentation to help professionals and nonprofessionals employed by the federal government know how to comply annually, armed with the information needed to efficiently meet these conditions.

Written by renowned experts in the fields of federal accounting and auditing, this single-source informative manual features:

Practice aids, including forms, checklists, illustrations, diagrams, and tables
Practical guidance on how an agency should test and evaluate its internal control
In-depth explanations to help the reader understand how best to approach an assessment of internal control effectiveness

Be prepared to comply with OMB Circular A-123 through the step-by-step approach found in OMB Circular A-123 and Sarbanes-Oxley: Management's Responsibility for Internal Control in Federal Agencies. Its structured treatment prepares agencies and auditors to sift through the "patchwork" of criteria for performing evaluations of internal control, including requirements unique to federal departments and agencies.

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