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The Government Accountability Office (GAO) Standards for Internal Control in the Federal Government (Green Book) and Grant Management Lifecycle Examples

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In the era of grant reform and modernization, grants managers are committed to exploring ways to improve accountability, governance and data standardization. The Federal Managers’ Financial Integrity Act (FMFIA) requires the Government Accountability Office (GAO) to prescribe standards of internal control in the Federal Government, known as the (Green Book). The Green Book defines internal control as a process affected by an entity’s oversight body, management, and other personnel that provides reasonable assurance that the objectives of an entity will be achieved. These objectives and related risks are classified into one or more of the following three categories:
  • Operations: Effectiveness and efficiency of operations
  • Reporting: Reliability of reporting for internal and external use
  • Compliance: Compliance with applicable laws and regulations
An effective internal control system can help an entity address and manage fluctuating demands, environmental paradigms, emerging risks, and priorities.

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