Handbook on Management Controls

2. Replace OMB's existing Internal Control Guidelines with a handbook on
management controls. (2)

OMB, the President's Council on Management Improvement, and the
interagency Management Control Coordinating Council should jointly
develop a handbook on management controls to replace the Internal
Control Guidelines last issued by OMB in 1982.

The new handbook would focus on the implementation of effective
management controls and not on cumbersome reporting requirements. It
should include:

--- definitions of key items (e.g. material weaknesses, high risk,
management controls) as defined by those agencies identified as having
"best practices;"

--- identification of effective agency management control councils,
based on "best practices";

--- examples of how to redirect resources to correct potential
weaknesses before they become real problems;

--- examples of effective early warning systems;

--- examples of combined review and reporting requirements; and

--- names of individuals who are willing to provide training and
technical assistance.

The handbook should be updated periodically through supplements or
complete revisions.

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