The act that requires ongoing evaluations and reports on internal control in Executive agencies is:

The act that requires ongoing evaluations and reports on internal control in Executive agencies is:

• A. Federal Managers' Financial Integrity Act of 1982
• B. OMB Circular A-123
• C. Foreign Mission Acts
• D. Federal Financial System Act

Answer: (A)

The main idea is about a statutory requirement for ongoing oversight of internal controls and annual reporting. The Federal Managers' Financial Integrity Act of 1982 established that executive agencies must continuously evaluate the effectiveness of their internal controls and financial management systems and annually report those findings to the President and Congress. This creates a formal, ongoing process of assessment and accountability for internal control across federal agencies. While OMB Circular A-123 provides guidance on implementing internal controls, it is a policy circular rather than an act, so it doesn’t fit the question’s “act” criterion. The other options are not relevant statutes governing this requirement.

The main idea is about a statutory requirement for ongoing oversight of internal controls and annual reporting. The Federal Managers' Financial Integrity Act of 1982 established that executive agencies must continuously evaluate the effectiveness of their internal controls and financial management systems and annually report those findings to the President and Congress. This creates a formal, ongoing process of assessment and accountability for internal control across federal agencies. While OMB Circular A-123 provides guidance on implementing internal controls, it is a policy circular rather than an act, so it doesn’t fit the question’s “act” criterion. The other options are not relevant statutes governing this requirement.