The Chief Financial Officers Act:

A Mandate for Federal Financial Management Reform

AFMD-12.19.4: Published: Sep 1, 1991. Publicly Released: Sep 1, 1991.

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GAO published a booklet to help agency managers and other interested parties: (1) become familiar with the Chief Financial Officers (CFO) Act of 1990, which gives the Office of Management and Budget (OMB) broad, new authority and responsibility for directing federal financial management, modernizing the government's financial management systems, and strengthening financial reporting; and (2) better understand the actions needed to successfully implement the act.

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