Internal Controls Over Financial Reporting (ICOFR) Program
ICOFR Overview
The Internal Controls Over Financial Reporting (ICOFR)
Program supports the DON in meeting Office of Management and Budget (OMB) re-issued Circular A-123,
which requires each branch of DoD to annually assess and report on the effectiveness of their internal
controls in order to protect the integrity of DoD’s financial reporting.
The main goal of the ICOFR Program is for all components of the DON to develop a clear strategy of how to
measure their business processes and controls. This will serve as the backbone for the sustainment of auditable
financial statements going forward as this is an ongoing process and part of the “new way of doing business”
within the DoD. An important aspect of ICOFR to remember is that this will be done on an annual basis.
Audit readiness is more than just a one-time achievement; it is a consistent state of financial
integrity that must be continually sustained, and the ICOFR program is key in accomplishing that goal.
The sooner that all components of the DON can work to meet ICOFR guidelines, the more efficiently the
audit readiness process will proceed in future years. For more information about the ICOFR program please
see the ICOFR Guidance and Tools Page or call (202) 685-0791.
