• Various Sections – Reformatted to new policy format and completed five-year update.
• Overall changes made to:
  • Clarified policy to match GAO and OMB’s revision to internal control requirements
  • Update the roles and responsibilities for the implementation and management of internal control in VA
  • Change reference to SAT as the governing body for internal controls to the CFO Council
• Section 0503 Definitions – Added definitions for clarity of understanding of the Internal Control Assessment Process.
• Section 0504 Responsibilities – Clarifies responsibilities for internal controls.
• Section 0505 Policy updated to:
  • Entire section establishes revised procedures for designing, implementing, and assessing internal controls
  • Adds responsibility for assessing service organization controls
• Section 0506 Authorities and References – Updated Green Book and OMB Circular A- 123 references to align with revisions.
• Appendix A – Added to provide description of the Internal Control Assessment Process.
• Appendices B – F – Deleted as processes and procedures described in these appendices are no longer applicable to new GAO standards.