Proper internal control systems are imperative in any organization. Management is responsible for ensuring the internal control system is established, functioning and properly monitored. This session covers the components and objectives of internal control and takes a serious look at performing a detailed management's assessment of internal control and risk. The program will also cover the Top 10 internal control failures as identified by the presenter.

To share his practical experience in auditing and academic research on internal controls and fraud is William A. Morehead, Ph.D., CGFM, CPA, chair of Accountancy, CIS and Finance, Delta State University, AGA Immediate Past National President, AGA Past National Treasurer and member of AGA's National Executive Committee.

Please join us for two hours of lively discussion about this important and timely topic. In addition to the speaker's commentary, about 20 minutes will be set aside so participants can ask the speaker questions and share their own experiences.

Government agency managers perform their day-to-day duties to advance and achieve mission goals while also ensuring compliance with regulations. This results in an abundance of work and can lead to a significant amount of overlapping and duplicated efforts. Many agencies perform these tasks using a "silo" approach rather than aligning and integrating efforts to reduce costs and enhance performance results. But how can your agency achieve integration? Before you can link compliance and performance, you first need to understand how these efforts are tied to your agency's overall goals, objectives and strategic plan. An integrated approach linking Governance, Risk, and Compliance (GRC) encourages collaboration across functions and departments-a major departure from the silo mentality. It focuses on all aspects of government performance, including compliance, internal controls, risk, strategic planning, performance reporting and continuity of operations. GRC normalizes risks and controls across multiple requirements while consolidating and blending activities.

The AGA Corporate Partner Advisory Group (CPAG) Research Program performed a research project on GRC. The objectives of the survey were to better understand the following:
� What is current state of GRC in the federal government?
� How do federal executives view and/or define GRC as it relates to their organization?
� How is it being implemented in the federal government and what are its potential benefits for government agencies?
� Are there definitions, measures or benchmarks of GRC maturity?
� Can GRC initiatives increase the likelihood of overall agency mission and program success, especially when integrated with performance management efforts?
� What are the major risks in getting it started?
� What are the best risk mitigation practices that can ensure success?"

To share their practical experience in GRC are Jayant Ahuja, CPA, CMA, CISA, Risk Management Group Leader, Troubled Assets Relief Program (TARP), Office of Financial Stability, U.S. Department of Treasury; William T. Hughes, CGFM, CPA, CICA, Managing Director, MorganFranklin; and Douglas W. Webster, DBA, CGFM, Partner, CSC's Federal Consulting Practice.

Please join us for two hours of lively discussion about this important and timely topic. In addition to the speakers' commentary, there will be approximately 20 minutes for Q & A so that the participants can ask the speakers questions and share their own experiences.