OMB Circular A-123 and COSO 2013

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

The Committee of Sponsoring Organizations of the Treadway Commission (COSO) is in the process of updating their Framework, "COSO". A three volumes set of new documentation was released for public comments on September 18, 2012. See our "Recent Issues Page" for further details on these documents.

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.

The retail cost of this CPE seminar is $495.00 per attendee.

To reserve your space, click on the "SIGN-UP NOW!" link in the right margin, complete the registration form, and use the corresponding "Submit Registration Form and Move to Payment Options Page" button for filing the registration and movng to the payment page.

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Each attendee will receive 4 Auditing, 2 Business Law, 2 Behavioral Ethics, 1 Information Technology CPE Hours (YB).

 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 topics being presented. 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 CPE Training Seminars

Corporate Compliance Seminars has been created by experts who enjoy providing CPE classroom training, workshops and consulting on internal controls, internal auditing and accounting related subjects. We have focused on SOX, COSO, PCAOB, COBIT, GRC, IFRS, AICPA, GAO and IIA Standards.

Corporate Compliance Seminars presents CPE to auditors, compliance and IT professionals, Boards of Directors and Audit Committees. We examine the details of risk management, Sarbanes-Oxley Act compliance, Model Audit Rule compliance, auditing, internal controls, IT security and compliance, and fraud prevention and detection.

Corporate Compliance Seminars allows the attendee to earn Official NASBA CPE credit.

Our seminars focus on 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), AICPA auditing standards and the future conversion from GAAP to the International Financial Reporting Standards (IFRS).

Our seminars provide CPE for the CPA, CFE, CIA, CISA, auditors and others with effective and engaging training.