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Search Tags: A-127
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.
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
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