Z Sample CPE Tracking OMB Circular A-123 History Letter 1981 OMB - - PDF document

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Journey to The Frontline

June 12| 2–3:50 PM ET | 2 CPEs | FOS: PD

#AGAwebinars

OMB Circular A-123 History

• 1981 – OMB First Issued Circular No. A-123, Internal Control Systems
• 1982 – OMB Issued Internal Control Guidelines and the Federal Managers Financial Integrity Act was

enacted

• 1983 – OMB Issued an Updated Circular No. A-123, Internal Control Systems
• 1986–OMB Updated A-123 to Require Management Control Plans to guide efforts
• 1995–OMB updated A-123, Management Accountability and Control to reflect GPRA, CFO Act, IG

Act

• 2004 – OMB updated A-123, Management’s Responsibility for Internal Control and added Appendix A,

Internal Control Over Financial Reporting

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Speakers

Jay Hurt, Managing Director Grant Thorton Alex Yow, CPA, SeniorAssociate Guidehouse Chidilim Okonkwo, Director NASA Headquarters

Jay Hurt

Managing Director, Grant Thornton LLP

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Jay's Semi-Random Career Path

• U.S. Department of Treasury – college career center
• American Management Systems – college career

center

• Coopers & Lybrand – job board
• Federal Student Aid – networking / referral
• Grant Thornton LLP – networking / referral

Your Career Path?

• Polling Question: Which of the following did you use to
• btain your current position? If you used multiple, pick the

most impactful tool.

• Internship / Temping
• College Career Center
• Job Board
• Job Fair
• Company Website
• Social Media
• Cold Calling
• Networking / Referral
• Head Hunter / Recruiter

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Why the Shift to Networking/Referral?

• Intellectual Curiosity
• Emotional Intelligence
• Developing & Maintaining Contacts

Intellectual Curiosity

• Definition: curiosity that leads to an acquisition of

general knowledge.

• Why, Why, Why, So What?
• Jay's Financial Statement Flux Analysis Example
• Gets You Noticed & Leads To Resume-Building

Achievements

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Emotional Intelligence

• Definition: the capacity to be aware of, control, and

express one's emotions, and to handle interpersonal relationships judiciously and empathetically.

• Those who have it can be described as…
• Cool under fire
• The person to call when you need to negotiate an

agreement

• Good at building teams out of conflicting individuals
• Focused
• Self-confident, but not arrogant

Emotional Intelligence

Polling Question: What are some words that you might use to describe someone who demonstrates emotional intelligence?

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Developing & Maintaining Contacts

• Create opportunities to meet people
• Attend, but more importantly, participate in organizations
• Collect contact information and create follow-up
• Organize contact information with notes
• Make time to maintain existing contacts
• Identify opportunities to share information
• Occasionally re-connect with contacts
• Network at all levels

Alexander Yow, CPA

Senior Associate, Guidehouse (Formerly PwC Public Sector)

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Polling Question: On a scale of 1-5, how do you feel about networking?

• 1. Dislike Networking
• 2. Moderately Dislike Networking
• 3. Netural/Indifferent
• 4. Moderately Enjoy Networking
• 5. Enjoy Networking

Importance of Networking

Learn from Others Discover new

• pportunities

Give back to the Community

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Grow your Network

• Attend events, show-up consistently
• Actively listen to connect and create opportunities
• Say “Hi” to people who you recognize!
• Don’t be shy, say “Hi” (even if you forgot their

name, you can ask for it again)

• If you receive a business card, write where you met

them and an interesting fact on the back

Create Networking Goals

• Identify type of events and topics of interest
• Identify people you want to meet
• Tip: Be prepared with engaging questions!
• Time management – Be selective of events attended

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Strategically Add Value

Get Involved- Volunteer! Ask questions- Be Authentic/Genuine Focus Efforts- Quality over Quantity

Chi Okonkwo, CGFM

Director, NASA, Headquarters

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Path to Leadership

• Leadership is a journey; not a destination
• Shaped by every experience
• Failures and success
• Developed by your awareness and response to your

environment

• Be present; pursue a passion

Leaders add value

• Beyond Education and certifications
• Are your talents recognized?
• Have you ever heard: If you need something done,

give it to a busy person

• Pursuing passion keeps you highly motivated
• What motivates you beyond salary

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How motivated are you?

• Polling Question: If you received $2M (tax-free) today

which of the following would still interest you about your current job?

• Organization’s Mission
• Subject Matter (Accounting, Audit, IT)
• People you work with
• Advancement Potential (Being groomed

for Mgmt)

• Not. One. Single. Thing.

Your value lies in your interest!

• Leaders are self-motivated and easily inspired
• Level of effort is continuous and sustained even when

the subject changes

• Easily re-energized after disappointment or failure

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Leaders facilitate

• Anticipate future needs and identify emerging trends
• Make the reach: Facilitate communications and/or

working groups for new subjects or apporaches

• Leverage existing relationships
• Create new relationships

Leaders are present

Polling Question: Where do you typically sit in a meeting in an Executive conference room?

• Head of the table
• At the table
• Back row behind the table
• Seat right next to the door
• Away - Dial into the conference number

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Be a Leader

• Be Present: Engage with others meaningfully at all levels
• Be Reliable: If the subject that interests you changes; be

sure your level of commitment does not

• Be a Facilitator: Seek opportunities to collaborate with
• thers to solve problems with mutually beneficial solutions

Thank you for participating!

Questions?

Contact AGA:

• webinars@agacgfm.org – speaking opportunities
• meetings@agacgfm.org – all training related questions

including volunteering opportunities

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