Improper Payments Information Act
FY 2007 Annual Risk Assessment
OMB Circular A-123, Management’s Responsibility for Internal Control, Appendix C, updated the requirement for an annual risk assessment. According to Part I, Section E, a risk assessment is required every three years if agency programs are not deemed risk susceptible. GSA does not have any programs deemed risk susceptible, therefore, is not required to perform a full risk assessment until FY 2008, and will report results in the FY 2009 Performance and Accountability Report (PAR). In the interim years, GSA will perform simplified risk assessments to review whether any significant legislative, programmatic, funding, and/or other changes that have occurred which would result in substantial program impacts. The Improper Payments Information Act Reporting Detail section under Other Accompanying Information contains detailed information on GSA’s recovery audit program.