The passage of the Sarbanes-Oxley Act served as an impetus for the U.S. government to re-evaluate its policies relating to internal control over financial reporting and management's related responsibilities. The result was the release in December 2004 of a revised Office of Management and Budget (OMB) Circular A-123, which requires federal agencies to meet standards similar to those contained in Section 404 of the Sarbanes-Oxley Act.

This comprehensive resource guide answers numerous questions about complying with revised OMB A-123. Topics covered include an overview of the revised requirements, applicability to various federal agencies, the role of management, the COSO Internal Controls - Integrated Framework, risks and control objectives, getting started with the compliance process, and key dates and deadlines.

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