OMB Circular A-123 is a US Office of Management and Budget (OMB)
Government circular
A government circular is a written statement of government policy. It will often provide information, guidance, rules, and/or background information on legislative or procedural matters.
See also
*List of circulars {{short description, None
This ...
that defines the management responsibilities for internal controls in Federal agencies. It was first issued in 1981 by
OMB's Office of Federal Financial Management
The Office of Federal Financial Management (OFFM) is a component of the United States Office of Management and Budget (OMB), which is part of the Executive Office of the President of the United States (EOP).
The President of the United States ap ...
and underwent numerous updates through 21 December 2004. The Circular is addressed to all federal
chief financial officer
The chief financial officer (CFO) is an officer of a company or organization that is assigned the primary responsibility for managing the company's finances, including financial planning, management of financial risks, record-keeping, and financ ...
s,
chief information officers, and program managers. The most current circular update (2016) was signed by then-director
Shaun Donovan.
The 2004 update to Circular A-123 is a re-examination of the existing internal control requirements for Federal agencies and was initiated in light of the new internal control requirements for publicly traded companies contained in the
Sarbanes-Oxley Act of 2002. The circular and the statute it implements, the Federal Managers’ Financial Integrity Act of 1982, are at the center of the existing Federal requirements to improve internal financial controls.
External links
Circular A-123 (2004)OMB Circular A-123 (2016)''Implementation Guide for OMB Circular A-123''(CFO Council, United States OMB)
Circular A-123
Government documents of the United States
Sarbanes–Oxley Act