The U.S. Office of Management and Budget wants to establish an integrated framework for governing spending oversight in government agencies, Federal News Radio reported Wednesday.
Jason Miller writes the agency will revise the Circular A-123 internal controls guidance to incorporate financial management initiatives, aiming to address improper payments and credit card abuse.
OMB is looking to emulate a data analysis and risk management approach to cybersecurity policy, the radio station reports.
Mike Wetklow, chief of the accountability performance branch at OMB’s federal financial management office, detailed the revision plan during a panel discussion at an Association of Government Accountant event Tuesday in Washington.
“We want to move away from you having to do everything over three years and have this compliance mindset to a more of a risk-based framework to allow agencies the flexibility in how they implement the circular,” said Wetklow, according to the report.
The circular will also include a Do Not Pay List initiative designed to help agencies track recipients of contracts, grants or other assistance programs.
Flavio Menasce, an OFFM senior policy analyst, told Federal News Radio the office will seek fedback on the draft in the coming months.