Grounded in the President’s Management Agenda, this guidance will:
• Provide agencies the discretion needed to use Enterprise Risk Management and take a risk-based approach to internal controls over reporting;
• Eliminate over 100+ pages of burden and obsolete, overly prescriptive guidance to agencies; and,
• Supersede previous OMB guidance that may have provided a confusing foundation for audit criteria externally.
Disclaimer of Warranty; Due Diligence. The resources and associated files are being offered "as is," and AFERM and the contributing authors disclaims all warranties of quality, whether express or implied, including the warranties of merchantability and fitness for particular purpose. The resource content recipient acknowledges that it has not been induced by any statements or representations of any person with respect to the quality or condition of the resource and associated files and that no such statements or representations have been made.
Limitation of Liability. Neither AFERM, its officers, directors, employees, agents, or contractors nor any contributing authors will be liable for any indirect, special, consequential, or punitive damages (including lost profits) arising out of or relating to these resources and associated files (whether for breach of contract, tort, negligence, or other form of action) and irrespective of whether the AFERM or the contributing authors have been advised of the possibility of any such damage.