Corporate controllers exhausted from the Sarbanes-Oxley Act can take one bit of grim solace this summer: Their public sector colleagues will soon join them.
“Circular A-123,” the federal government’s version of SOX to manage its own operations, will mandate drastic new internal control assessments from all government agencies when fiscal 2006 begins on Oct. 1. The provisions require annual reports on internal controls, and assurances that all of an agency’s controls have been documented and tested.
