Government Risk Assessments

Government entities operate in increasingly complex environments, facing risks that differ significantly from those in the private sector. This course provides a clear, practical introduction to identifying, assessing, and managing risks within governmental organizations, with a strong emphasis on the latest Green Book internal control requirements. Participants will explore how risk assessments support accountability, transparency, compliance, and operational effectiveness across public programs and activities.

Through government‑specific scenarios, the course examines risk drivers such as fraud, operational failures, natural disasters, system vulnerabilities, and regulatory noncompliance. Attendees will also learn how internal controls mitigate risks, how to align risk management with organizational goals, and how to document risk assessments in accordance with federal standards.

Who Should Attend
This course is appropriate for CPAs, CFEs, internal auditors, CIAs, CMAs, MAFFs, CFFs, CGMAs, external auditors, managers, CFOs and others responsible for risk management or internal controls for government entities. This course is ideal for government professionals, auditors, and financial leaders responsible for assessing and managing risks within public sector entities.

Topics Covered

• Types of risks affecting government entities (operational, financial, compliance, strategic)
• Risk assessment process: identification, analysis, and prioritization
• Government risk appetite, tolerance, and response strategies
• Internal controls and their role in risk mitigation
• Green Book internal control requirements and recent updates
• Fraud risks unique to government programs
• Documentation expectations and best practices for risk assessments
• Risk failures and successful mitigation strategies

Learning Objectives

• Identify common internal and external risks faced by government entities and programs
• Apply a structured risk assessment process, including identifying, analyzing, and prioritizing risks
• Explain how internal controls mitigate government risks and support compliance with the Green Book
• Evaluate government risk appetite and determine appropriate risk responses
• Interpret and apply the updated Green Book requirements within a governmental risk management framework
• Document risk assessments and internal control evaluations in alignment with federal guidelines

Level
Basic

Instructional Method
Group: Internet-based

NASBA Field of Study
Accounting (Governmental) (2 hours)

Program Prerequisites
None

Advance Preparation
None