OMB Circular A-123 and the Sarbanes-Oxley Act

A CPE seminar about practical, cost-effective compliance with “Management’s Responsibility for Internal Control” for Federal Agencies.

This one-day CPE seminar is designed for government accountants, auditors, section chiefs, directors, finance managers, attorneys, IT professionals and CPAs who are working on OMB A-123 compliance. Learn how agencies comply with the Office of Management and Budget (OMB) A-123. We also contrast compliance efforts with the requirements of the Sarbanes-Oxley Act which applies to public companies. Improve your Agency by Improving your Internal Controls!

OMB Circular A-123 is the Office of Management and Budget (OMB) circular that defines federal agency management's responsibilities for internal financial controls. It updated by OMB's Office of Federal Financial Management in December 2004 to address actions needed by Federal Chief Financial Officers, Chief Information Officers, and Program Managers.

This revision of A-123 called for a re-examination of the existing internal control requirements for Federal agencies and was initiated after the implementation of Sarbanes-Oxley Section 404 compliance in public companies. 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.

Cost of this seminar is $695/Attendee. Each attendee will receive 8 hours of CPE credit. To reserve your space click on the Sign-up Now and fill out a registration form and use a Buy Now Button to pay the fees.

 Upcoming OMB Circular A-123 and SOX Seminars

Refer to our Seminar Cities Index for a list of our seminar locations. The individual city pages provide a listing of other topics being present. Our Seminar Cities by Week provides a guide to the locations during a calender week.

Benefits of Attending

The 2004 revisions to OMB’s Circular A-123 focused on management’s responsibility for internal control in federal agencies. The changes were in direct response to the Sarbanes-Oxley Act which required public companies to improve their internal controls over financial reporting. The revised circular went into effect in fiscal year 2006. This seminar’s instructors are cost-conscious internal control experts with experience in the public and private sectors. They have helped dozens of corporations comply with the Sarbanes-Oxley Act and have presented this engaging seminar throughout the United States since the Act’s ratification in 2004. The instructors will candidly share their experience and present a pragmatic approach to compliance.

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Seminar Highlights

- The Importance of Internal Controls in Your Organization
- Best Practices Learned from the Sarbanes-Oxley Act and A-123 Compliance
- Internal Control Frameworks of COSO and COBIT
- Risk Management, Business Process Management, and Key Controls
- Testing the Effectiveness of Internal Controls
- Preventing and Detecting Fraud

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Learning Objectives

- Attendees will understand the differences between the two compliance models
- Attendees will understand internal controls and their application in federal agencies
- Attendees will learn the compliance requirements of both the OMB and SOX
- Attendees will discuss how internal controls can manage risk and reduce fraud
- Attendees will identify methods for the management of operations improvement programs

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Key Issues on the Agenda

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Internal Control & CPA Focused Training Seminars

The internal control seminars we present can benefit a variety of attendees:

- Non-accelerated filers who may just be getting their documentation underway for Section 404 compliance,

- Public companies looking to improve their effectiveness and efficiency of their Section 404 compliance,

- Nonprofit organizations, governmental agencies and other groups that want to improve the integration of their governance, risk and compliance (GRC) efforts,

- Executives and Board of Directors members who can gain insights from our "Best Practices" examples to really understand SOX Section 404,

- Anyone finds practical advice from our real-world experience with the implementation of internal controls over financial reporting (ICFR).

The internal audit seminars we present can benefit a variety of attendees:

- The new internal auditor can be oriented to the profession and the work,

- Auditors looking for improvements in their approach and knowledge,

- Professionals looking to improve the content of their workpapers and the impact of audit reports,

- Any organization that desires to improve the effectiveness of their internal audit department,

- Audit Managers looking for education concerning current audit issues,

- Anyone finds practical advice from our real-world experience with internal and external auditing.

Experts Providing Training Seminars

Corporate Compliance Seminars was founded by experts who enjoy researching and providing classroom training, workshops and consulting on internal controls, auditing, compliance and accounting related subjects. We focus on SOX, COSO, PCAOB, COBIT, GRC, risk management, IFRS and IIA Standards.

Corporate Compliance Seminars allows attendee to earn Official NASBA CPE credit while examining the details of the Sarbanes-Oxley Act of 2002 (SOX), Internal Controls over Financial Reporting (ICFR), Committee of Sponsoring Organizations of the Treadway Commission (COSO) Internal Control Frameworks, ISACA's Control Objectives over Information Technology (COBIT), Information Technology Infrastructure Library (ITIL), Open Compliance & Ethics Group's (OCEG)Governance, Risk & Compliance (GRC) methodology, PCAOB's Auditing Standard 5 (AS5), and the future conversion from GAAP to the International Financial Reporting Standards (IFRS).

Our training seminars provide CPE For CPAs, CFEs, CIAs, CISAs, auditors and others with effective and engaging educational training.