Office of Management and Budget (OMB) Circular A-123, Management’s Responsibility for Enterprise Risk Management and Internal Control, requires federal agencies to implement an enterprise risk management (ERM) capability. The changes in OMB Circular A-123 are transformative to the program and operational practices, as well as the culture of federal agencies.
Implementing ERM can be a challenging journey for federal agencies. KPMG has developed a 10 step practical approach:
For more details on OMB Circular A-123 and our 10 steps to implementing ERM, read our white paper.