[Economies, Efficiencies, and Savings--A Challenge for Comptrollers and Auditors]

In an address before a joint meeting of Government accountants and military comptrollers, GAO cited the need to achieve efficiencies and savings in Government, especially in the Department of Defense, and to restore public confidence. GAO noted the importance of coordinating and upgrading all facets of Federal financial management systems as well as streamlining the budget process. Specific suggestions included: (1) establishment of a high-level budget study commission; (2) better oversight of Federal programs; and (3) adherence to policies governing accounting and internal controls as prescribed by law. GAO expressed concern about fraud, waste, and abuse in Government and presented ways to improve internal controls by the establishment of fraud hot lines, offices of Inspectors General in major departments, and policies that require and maintain high ethical standards for Government employees. In conclusion, GAO stated that, because of the public's increasing demand for governmental accountability, financial management professionals should provide leadership in the agencies they serve.