Financial Management: Effective Implementation of FFMIA Is Key to Providing Reliable, Useful, and Timely Data

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Testimony issued by the General Accounting Office with an abstract that begins "The Federal Financial Management Improvement Act (FFMIA) of 1996 ensures that agency financial management systems routinely provide reliable and timely financial information on the investment of resources, reduced costs and programs oversight. Although many agencies are receiving unqualified opinions on their financial statements, auditor determinations of FFMIA compliance are lagging. To achieve the financial management improvements envisioned by the Chief Financial Officers Act, FFMIA, and more recently, the President's Management Agenda, agencies need to modernize their financial systems to generate reliable, useful, and timely financial information throughout the ... continued below

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United States. General Accounting Office. June 6, 2002.

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Description

Testimony issued by the General Accounting Office with an abstract that begins "The Federal Financial Management Improvement Act (FFMIA) of 1996 ensures that agency financial management systems routinely provide reliable and timely financial information on the investment of resources, reduced costs and programs oversight. Although many agencies are receiving unqualified opinions on their financial statements, auditor determinations of FFMIA compliance are lagging. To achieve the financial management improvements envisioned by the Chief Financial Officers Act, FFMIA, and more recently, the President's Management Agenda, agencies need to modernize their financial systems to generate reliable, useful, and timely financial information throughout the year and at year-end."

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Government Accountability Office Reports

The U.S. Government Accountability Office (GAO) is an independent, nonpartisan agency that works for the U.S. Congress investigating how the federal government spends taxpayers' money. Its goal is to increase accountability and improve the performance of the federal government. The Government Accountability Office Reports Collection consists of over 13,000 documents on a variety of topics ranging from fiscal issues to international affairs.

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  • June 6, 2002

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  • June 10, 2014, 6:42 a.m.

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United States. General Accounting Office. Financial Management: Effective Implementation of FFMIA Is Key to Providing Reliable, Useful, and Timely Data, text, June 6, 2002; Washington D.C.. (digital.library.unt.edu/ark:/67531/metadc290283/: accessed September 23, 2017), University of North Texas Libraries, Digital Library, digital.library.unt.edu; crediting UNT Libraries Government Documents Department.