Jun 15, 2016
From the Government Institute
The pending changes to OMB Circular A-123, requiring enterprise risk management (ERM), will be transformational to the program and operational practices and risk culture of federal agencies. Internal control has now taken the most dramatic turn since enactment of the landmark Federal Managers' Financial Integrity Act over 30 years ago and the movement to ERM presents new challenges to federal agencies. To help government managers navigate these new requirements, KPMG has identified 10 critical elements for a sustainable ERM implementation strategy.
This article, originally appearing in the Journal of Government Financial Management, explores ERM concepts and highlights our 10 critical implementation elements.