Talk:Chief Financial Officers Act of 1990

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I have moved the following stuff from the article page. Please clean it up before moving any of it back. (See Wikipedia:Policies and guidelines#Content guidelines - dcljr 05:35, 10 Jan 2005 (UTC)

Articles I would like written

High Priority:

Lower Priority, but good to have:

  • Why was the CFO Act passed?
  • Who usually audits CFO Act Agencies?
  • What happens when a CFO Act Agency fails audit?

Key words:

From the testimony of Susan Gaffney, inspector General of HUD:

... Nowhere in these broad purposes does the CFO Act list obtaining an unqualified opinion, yet this has become the one measure that is pointed to frequently as a measure of success in improving agencies’ financial management.....

Contents

[edit] US Government Agencies not covered under the CFO Act

The Department of Homeland Security (DHS) is exempt from the CFO Act.

From Spurning the CFO Act by Roy Harris, CFO Magazine September 08, 2004:

The finance chief at the Department of Homeland Security wants "a chance to do things our way."

Some think it was just an oversight that the Department of Homeland Security, created two years ago, became the only cabinet-level agency not subject to the CFO Act of 1990.....

[edit] History of This Page

This page grew out of this discussion

a thread where I'm trying to convince members of the newsgroup to migrate some of our activity to wiki.

[edit] Further expansion

[edit] History of Compliance

Steinberg, Harold I. Publication: Journal of Accountancy Date: March 1996 Following enactment of the CFO Act, the policies and standards that govern the government's central and agency-based financial systems were revised, various central systems were upgraded or changed and agency systems were consolidated or modernized. Nonetheless, at the end of the 1994 fiscal year, only 34% of the agencies' systems had fully implemented the government's standard general ledger, only 63% had met their agency standards for a computing environment and 55% of the system applications needed to be replaced or upgraded. http://www.allbusiness.com/accounting/methods-standards-generally-accepted-accounting/543111-6.html