Federal Financial Management: Substantial Progress Made Since Enactment of the 1990 CFO Act; Refinements Would Yield Added Benefits

reportActive / Technical Report | Accesssion Number: AD1130839 | Open PDF

Abstract:

Prior to enactment of the CFO Act, federal agencies lost billions of dollars through fraud, waste, abuse, or mismanagement. The CFO Act was enacted, in part, to address these problems - calling for comprehensive federal financial management reform. Among other things, the act established CFO positions, provided for long-range planning, and began the process of auditing federal agency financial statements. The act also called for integrating accounting and financial management systems, and systematic performance measurement and cost information.

Author(s):
Dodaro, Gene L
Author Organization(s):
United States Government Accountability Office
Funding Organization(s):
United States Government Accountability Office, Washington , DC
Document Type:
Technical Report/Congressional Report
Publication Date:
2020 Aug 01
Pagination:
141

Security Markings

DOCUMENT & CONTEXTUAL SUMMARY

Distribution Code:
A - Approved For Public Release
Distribution Statement: Public Release

RECORD

Collection: TRECMS
Subject Terms
Communities of Interest:
Cyber
Descriptor(s):
management personnel, business administration, organizational structure, personnel management, employment, teamwork, information systems, united states government, congress, law, money, data analysis, government procurement, department of homeland security, public administration, reliability, social media
Keyword(s):
cfo Act (chief financial officers act), omb (office of managment and budget), financial reporting, government waste
Subject Categories:
Behavioral and Social Sciences; Behavioral and Social Sciences
Creation Date:
2021 May 28
Update Date:
2021 Jul 06