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Search Tags: financial management
The Office of Management and Budget decided FSIO met its goals of creating business process and data standards for the Financial Management Line of Business, and finished its last update of the Core Financial Systems Requirements and therefore is no longer needed.
Federal controller Danny Werfel to issue new guidance on measuring and fixing improper payments this week. OMB also is planning two pilot programs to improve how agencies receive and process vendor invoices, and to enhance intragovernmental transactions. Werfel also says the approach to financial management shared services is changing.
Tags: management , technology , Danny Werfel , OMB , Treasury , GSA , Association of Government Accountants , improper payments , Financial Systems Integration Office , shared service providers , CFO , Intragovernmental transactions , AGA
He outlines several priorities if confirmed, including further reducing improper payments and reducing the federal real property inventory. Werfel says DoD must better understand why a qualified audit helps them meet their mission.
Texas Democrat's bill would modernize how the government appropriates, measures funding. Agency progress with financial management oversight improves slightly, but still no consolidated audit opinion.
Tags: mngt , Henry Cuellar , Diana Watson , Gene Dodaro , Richard Gregg , DHS , DoD , NASA , House Oversight and Government Reform Committee , GAO , Treasury , Army Corps of Engineers , audit opinion , CFO Act , Performance based budgeting
FSIO will cease operations as of March 31. OMB controller Werfel says the organization will issue its final set of requirements and business processes by the end of the month too.
Outgoing Deputy Defense Secretary William Lynn said the biggest change at the Defense Department during his tenure was the increased focus on cybersecurity.
The Government Accountability Office is looking at the progress the Pentagon is making.
The GAO's reports evaluates the independence of inspector generals in government.
In reports and testimony to Congress, the Government Accountability Office finds DoD has built a credible plan to meet a Congressionally-mandated full financial audit by 2017. However, the audit agency is skeptical the military branches will be able to implement the plan in time.