Risk Assessment Framework

Webinar Division

    Core Course: 110-1103

    Course Name: PDM: The Risk Assessment Framework

    Course Time: 90 minutes

    Click to view course outlineOutline: click here to view

    Course Descriptions:The Fraud Reduction and Data Analytics Act of 2015 requires OMB to establish guidelines that incorporate the leading practices of GAO’s Fraud Risk Framework. The act also requires federal agencies—including HHS—to submit to Congress a progress report each year, for 3 consecutive years, on implementation of the risk management and internal controls established under the OMB guidelines. OMB published guidance under OMB Circular A-123 in 2016 affirming that federal managers should adhere to the leading practices identified in the Fraud Risk Framework.

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Learning Outcomes

Upon successful completion of all program requirements, participants will be able to:

1.

  • Establishment of a governance structure to effectively implement, direct and oversee implementation of the Circular and all the provisions of a robust process of risk management and internal controls
2.

    • Leverage existing offices or functions within the organization that currently monitor risks and the effectiveness of the organization’s internal control

3.

    • Develop a maturity model approach1 to the adoption of an ERM framework that builds risk identification capabilities into the framework to identify new or emerging risks, and/or changes in existing risks

4.

    • Evaluate the effectiveness of internal controls using GAO’s Standards for Internal Control in the Federal Government. (The Green Book)

 

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