The new OMB Circular A-123, released on July 15, 2016, requires federal managers to regularly conduct a fraud risk assessment. If not properly managed, fraud, waste, abuse, misconduct, and improper payments can undermine program effectiveness. KPMG can help federal agencies and programs prevent, detect, and respond.
Defrauding government programs is big business, and government leaders are under increasing pressure to reduce or eliminate fraud, waste, abuse, misconduct, and improper payments impacting federal programs. Congress, OMB, taxpayers, Inspectors General, and the GAO are demanding better fraud reducation results and more accountability from federal officials.
A reputation for program integrity is critical to increasing and safeguarding public trust in governmental programs and officials. Not only is a fraud risk assessment required for compliance with the new OMB Circular A-123, but it is good practice for a strong fraud risk management program.
KPMG’s Global Fraud Risk Management Methodology can help federal agencies in their continuous efforts to prevent, detect, and respond to fraud, waste, and abuse. Our methodology includes the design, implementation, and evaluation of applicable programs and controls and corresponds to GAO’s Fraud Risk Management Framework.