Download or read book Financial management improved financial systems are key to FFMIA compliance report to congressional requesters written by and published by DIANE Publishing. This book was released on with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial Management Improved Financial Systems Are Key to FFMIA Compliance written by and published by . This book was released on 2004 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial Management written by United States Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2017-10-19 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial Management: Improved Financial Systems Are Key to FFMIA Compliance
Download or read book Financial Management written by United States. Government Accountability Office and published by . This book was released on 2004 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Gao 05 20 Financial Management written by United States Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2018-01-30 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: GAO-05-20 Financial Management: Improved Financial Systems Are Key to FFMIA Compliance
Download or read book Financial management recurring financial systems problems hinder FFMIA compliance written by and published by DIANE Publishing. This book was released on with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial management achieving FFMIA compliance continues to challenge agencies report to congressional committees written by and published by DIANE Publishing. This book was released on with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial management sustained efforts needed to achieve FFMIA accountability written by and published by DIANE Publishing. This book was released on with total page 77 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial management FFMIA implementation critical for federal accountability report to congressional committees written by and published by DIANE Publishing. This book was released on with total page 77 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial Management Improvements Under Way but Serious Financial Systems Problems Persist written by and published by DIANE Publishing. This book was released on with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial Management written by United States Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2017-09-15 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Federal Financial Management Improvement Act of 1996 (FFMIA) requires the 24 Chief Financial Officers (CFO) Act agencies to implement and maintain financial management systems that comply substantially with (1) federal financial management systems requirements, (2) federal accounting standards, and (3) the U.S. Government Standard General Ledger (SGL). FFMIA also requires GAO to report annually on the implementation of the act. This report, primarily based on GAO and inspectors general reports, discusses (1) the problems that continued to affect agencies systems' FFMIA compliance in fiscal year 2006 and (2) the initiatives under way to help move federal financial management toward FFMIA compliance. Federal agencies have continued to make progress in meeting the requirements of FFMIA since the passage of the law in 1996. Most agencies though, have not yet progressed to the stage that their systems are substantially compliant, and some agencies have made little progress. Accordingly, agencies continue to fall short in their attempts to establish the financial systems needed to create the full range of information needed for effective day-to-day management. In fiscal year 2006, auditors for 17 of the 24 CFO Act agencies reported that agencies' financial management systems did not substantially comply with at least one of the three FFMIA requirements. As shown below, based on audit reports, GAO identified six types of problems primarily related to agencies' systems. These problems with agency financial systems remain a significant obstacle to supporting effective management of the federal government. Number of Agencies with Reported FFMIA Compliance Problems for Fiscal Years 2002 through 2006 06121824Weaksecurity overinformationsystemsLack ofadherenceto federalaccountingstandardsNoncompliancewith the SGLLack ofaccurateand timelyrecordingInadequatereconciliationproceduresNonintegratedfinancialmanagementsystemsCFO Act agenciesFiscal yearSource: GAO analysis, based on independent auditors' financial statement audit reports.131112131211111114141715161715910111171311111110191715151620022003200420052006 With regard to improvement initiatives, GAO noted continued progress in two key areas: (1) agencies' required remediation plans and (2) the Office of Management and Budget's (OMB) efforts to address system implementation problems. All 12 of the remediation plans GAO reviewed included corrective actions, but several were missing key elements. Moreover, agencies continue to struggle with efforts to modernize their financial management systems. This problem is particularly acute at the Department of Defense. Agency modernization efforts have been consistently hampered by failure to follow best practices in systems development and implementation, commonly referred to as disciplined processes. As a result, these efforts far too often do not meet cost, schedule, and performance goals. To help address these problems, OMB has demonstrated continued progress in the implementation of the financial management line of business initiative. However, additional steps forward are needed to provide a foundation for this initiative.
Download or read book Financial Management written by U S Government Accountability Office (G and published by BiblioGov. This book was released on 2013-07 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Improving the Federal Government s Financial Management Systems written by Gene L. Dodaro and published by DIANE Publishing. This book was released on 2008-10 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the enactment of key financial mgmt. (FM) reforms, the fed. gov¿t. has devoted significant resources to improving FM activities and practices. Yet continuing attention is needed to address persistent, long-standing accountability problems and to redefine success for fed. FM. Many gov¿t. agency FM systems do not produce the accurate, timely, and meaningful info. needed for mgmt. decision making. This forum brought together FM leaders from the fed. gov¿t., incl. the CFO, CIO, and IG communities, and other officials with extensive experience in FM from both the public and private sectors. The forum addressed: the future of fed. FM; applying lessons learned from fed. FM system implementations; and strategies for transforming fed. FM culture.
Download or read book Financial Management Long Standing Financial Systems Weaknesses Present a Formidable Challenge written by and published by DIANE Publishing. This book was released on 2007 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial management FFMIA implementation necessary to achieve accountability written by and published by DIANE Publishing. This book was released on 2002 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Framework for Federal Financial Management System Checklist written by Gene L. Dodaro and published by DIANE Publishing. This book was released on 2009-03-01 with total page 106 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Fed. Financial Management Improvement Act (FFMIA) of 1996 requires that agencies implement and maintain management systems that substantially comply with fed. financial management systems requirements. To assist in reviews of financial management systems under FFMIA, the author issued 3 checklists concurrently as practice aids. This checklist reflects the Joint Financial Management Improvement Program¿s ¿Framework for Federal Financial System Management Requirements.¿ Although the framework document is primarily a reference tool rather than a standard-setting document, it is intended to promote understanding of key financial management systems concepts and requirements, esp. as they relate to system integration.
Download or read book Core Financial System Requirements written by U S Government Accountability Office (G and published by BiblioGov. This book was released on 2013-07 with total page 138 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publications supersedes AIMD-00-21.2.2, Core Financial System Requirements: Checklist for Reviewing Systems Under the Federal Financial Management Improvement Act, February 2000. The Federal Financial Management Improvement Act of 1996 (FFMIA) requires, among other things, that agencies implement and maintain financial management systems that substantially comply with federal financial management system requirements. These requirements are detailed in the Federal Financial Management System Requirements series issued by the Joint Financial Management Improvement Program (JFMIP) and in the guidance issued by the Office of Management and Budget (OMB): Circular No. A-127, Financial Management Systems, and the January 4, 2001, Revised Implementation Guidance for the Federal Financial Management Improvement Act (FFMIA) of 1996. JFMIP intended for the requirements to promote understanding of key financial management systems concepts and requirements, to provide a framework for establishing integrated financial management systems to support program and financial managers, and to describe specific requirements of financial management systems. We are issuing this checklist, which reflects JFMIP's revised Core Financial System Requirements (JFMIP-SR-02-01, November 2001), to assist (1) financial systems analysts, systems accountants, systems developers, program managers, and others who design, develop, implement, operate, or maintain financial management systems and (2) management and auditors in reviewing agency core systems to determine if the systems substantially comply with FFMIA.
