[Modification of GAO Procedures With Respect to Approval of Executive Agency Accounting Systems]

To increase the effectiveness of its review process, the GAO approval operation will be limited to the approval of the operating accounting system. It will no longer try to approve agency statements of accounting principles and standards and designs of accounting systems. GAO will maintain and promulgate the principles and standards and related requirements for accounting to be observed by each executive agency. Upon request, GAO will continue to provide consultative assistance to agencies in the development and operation of their systems. GAO will formally approve only complete accounting systems in accordance with stated criteria and will occasionally examine the overall effectiveness of accounting systems in operation. Finally, GAO will elicit the assistance of the Inspectors General in helping agencies to design and operate effective accounting systems.