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From 500 to 70, OMB reduces number of financial system requirements

The Office of Management and Budget rescinds CircularA-127 and issues new guidance to simplify financial system requirements. The goal is to improve quality, utility and the reliability of federal financial information.

Tags: financial management , OMB , Norman Dong , A-123 , shared services , Jason Miller , exclusive

Thursday - 10/24/2013, 03:57am EDT
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OMB following a familiar path as it shapes new financial internal controls

The Office of Federal Financial Management is updating Circular A-123 to focus on risk management and data-driven decision-making. OFFM also plans on rescinding the financial systems requirements circular, A-127, in the coming weeks.

Tags: management , financial management , internal controls , A-123 , OMB , Mike Wetklow , Treasury , David Saltiel , Flavio Menasce , improper payments , Do Not Pay portal , Association of Government Accountants

Wednesday - 09/18/2013, 05:44am EDT
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OMB's pause of financial systems had little effect on cost, schedule

GAO reviewed the administration's implementation of the July 2010 memo calling for a government-wide review of financial management projects. Auditors found about half of the projects said there was no change in cost and three-quarters said their schedule remained the same.

Tags: financial management , GAO , OMB , Tom Carper , Scott Brown , Senate Homeland and Governmental Affairs Committee , financial management systems , CFO Council , Jason Miller , In Depth , Francis Rose , Naba Barkakati

Thursday - 03/15/2012, 05:08pm EDT
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