Certification

CPFO - Risk Assessment Outline

Finance officers must be able to identify, evaluate, and work to mitigate various financial risks that governments face. The Risk Assessment test for the CPFO program covers skills necessary for risk awareness, assessment, and management. Tests will cover skills and knowledge related to common risks that governments all face related to legal issues, internal controls, technology, property loss, employment issues, and general liability.

Risk Assessment Outline

SUB-TOPIC	DETAIL	PERCENTAGE WEIGHTING
Enterprise Risk Management	Risk Identification Risk Assessment Risk Response Internal Controls (Fraud Prevention)	30%
Local Government Law and Compliance	Public Information/Records Tort Liability	10%
Workplace/HR	Employment Law	10%
Business Continuity/Disaster Recovery	Natural Disaster Disaster Preparedness Disaster Response	15%
Insurance	Cyber Insurance Contractor Issuance Liability Insurance	15%
Information Technology	Cyber Security Data Security Cloud Services	20%

Resource Recommendations

GFOA recommends that CPFO candidate review the following materials to prepare for the exam.

GFOA Best Practices

Research Reports/Publications

The Why and How of IT Risk Management, GFR, April 2016
Don’t Go It Alone: Pooling Budgetary Risk to Save Money in Your Budget, GFR, June 2021
Risk Management Insurance

Available Training

Risk Management and Business Continuity

Additional Web Resources

Fiscal First Aid Video: Assessing Risks Related to Cyber Crime

Please contact Eric Roach or email GFOA with questions.

Last Updated January 18, 2022