Financial management systems: Requirements checklists; availability,

[Federal Register: February 22, 1999 (Volume 64, Number 34)]

[Notices]

[Page 8573-8574]

From the Federal Register Online via GPO Access [wais.access.gpo.gov]

[DOCID:fr22fe99-76]

GENERAL ACCOUNTING OFFICE

System Requirements Checklists

AGENCY: General Accounting Office.

ACTION: Notice of document availability.

SUMMARY: The General Accounting Office (GAO) is issuing the System Requirements for Managerial Cost Accounting Checklist (GAO/AIMD-99- 21.2.9). The checklist reflects the system

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requirements defined by the Joint Financial Management Improvement Program (JFMIP). This is the fourth in a series of checklists that may be used as tools to help agencies review their financial management systems and assist auditors with their responsibilities under the Federal Financial Management Improvement Act (FFMIA) of 1996. Although this checklist is not required to be used by agencies, this notice indicates that the checklist is available from GAO for immediate use.

DATES: January 19, 1999.

ADDRESSES: Copies of the cost accounting checklist are available by (1) pick-up at Document Distribution, U.S. General Accounting Office, Room 1100, 700 4th Street, NW. (corner of 4th and G Streets, NW.), Washington, DC; (2) mail from U.S. General Accounting Office, P.O. Box 37050, Washington, DC 20013; (3) phone at 202-512-6000 or FAX 202-512- 6061 or TDD 202-512-2537; or (4) on GAO's home page (http:// www.gao.gov) on the Internet.

FOR FURTHER INFORMATION CONTACT: Robert W. Gramling, 202-512-9406.

SUPPLEMENTARY INFORMATION: The FFMIA requires, among other things, that agencies implement and maintain financial management systems that substantially comply with federal financial management systems requirements. These system requirements are detailed in the Financial Management Systems Requirements series issued by JFMIP and Office of Management and Budget (OMB) Circular A-127, Financial Management Systems.

The JFMIP requirements documents identify: (1) a framework for financial management systems, (2) core financial systems requirements, and (3) 16 other systems that support agency operations. To date, JFMIP has issued the framework and core documents, and 7 of the 16 systems (inventory, seized/forfeited asset, direct loan, guaranteed loan, travel, personnel-payroll, and managerial cost accounting). In addition to the cost accounting checklist, GAO has issued three other checklists (Framework for Federal Financial Management System Checklist (GAO/AIMD- 98-21.2.1), Core Financial System Checklist (GAO/AIMD-98-21.2.2), and Inventory System Checklist (GAO/AIMD-98-21.2.4)). GAO plans to issue a checklist for each of the JFMIP systems requirements documents as the existing ones are updated and new ones are issued. This checklist, issued in final, was initially issued as an exposure draft and the comments received were analyzed and considered.

OMB Circular A-127 and OMB's Implementation Guidance for the Federal Financial Management Improvement Act (FFMIA) of 1996, issued September 9, 1997, provide the basis for assessing compliance with the FFMIA requirement of agencies to implement and maintain financial management systems that comply substantially with federal requirements. OMB's guidance provides indicators for chief financial officers and inspectors general to assist them in determining whether the agency's financial management systems substantially comply with federal financial management systems requirements. The annual assurance statement required pursuant to section 4 of the Federal Managers' Financial Integrity Act is one of those indicators. Agencies can use GAO's checklists to help determine annual compliance with section 4 of the Integrity Act. Gene L. Dodaro, Assistant Comptroller General, Accounting and Information Management Division.

[FR Doc. 99-4249Filed2-19-99; 8:45 am]

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