OMB A-123 Compliance
OMB A-123 directive from the United States Office of Management and Budget (OMB) stipulates that federal agencies must provide fundamentally the same internal controls and financial reporting that publicly traded companies must abide by within section 404 of the Sarbanes Oxley Act. It is a significant step by the federal government to acknowledge and mirror the growing need for a renewed emphasis on organizational internal control.
As the OMB Circular A-123 takes effect, agencies in the Federal Government are looking at ways to automate the management of internal controls and streamline the compliance program. MetricStream enables federal agencies to effectively comply with the OMB A-123 directive and manage the financial reporting processes by automating their procedures to document and test internal controls as well as to track, manage and close actions to correct deficiencies and weaknesses.
The MetricStream solution boosts the efficiency and effectiveness of the compliance efforts and provides complete visibility into the quality of internal controls. It provides end-to-end functionality to automate the A-123 compliance process including support for designing and establishing controls, assessment and improvement processes, and correction of control deficiencies. In addition, agency executives have real-time visibility into organizational risks associated with OMB A-123 directive.
Developed on the MetricStream Enterprise Compliance Platform, the solution is designed for ease-of-use and fast implementation. Add on modules for Audit Management, Document Management, and Training Management can be seamlessly integrated with the A-123 solution to automate all supporting processes as well.
