What does OMB Circular A-127 Revised prescribe?

• A. Policies and standards for executive departments and agencies to follow when managing their financial management systems
• B. Risk management and internal control frameworks
• C. Privacy policies for federal websites
• D. General guidelines for information security

Answer: (A)

OMB Circular A-127 Revised sets government-wide requirements for how federal agencies should manage their financial management systems. It prescribes the policies and standards that executive departments and agencies must follow when designing, operating, and maintaining these systems, with the goal of ensuring consistent, auditable, and reliable financial data for reporting and oversight. This focus is specific to financial management, and it’s distinct from risk management frameworks, privacy policies for federal websites, or general information security guidelines handled by other policies and standards.