OMB Circular A-123 is a US Office of Management and Budget (OMB)
Government circular 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 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 fina ...
s,
chief information officers, and program managers. The most current circular update (2016) was signed by then-director
Shaun Donovan
Shaun Lawrence Sarda Donovan (born January 24, 1966) is an American government official and housing specialist who served as United States Secretary of Housing and Urban Development from 2009 to 2014, and Director of the US Office of Management ...
.
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