Federal Internal Control and Financial Management Systems:

Major Reform Efforts Are Needed

T-AFMD-90-14: Published: Apr 18, 1990. Publicly Released: Apr 18, 1990.

Additional Materials:


Office of Public Affairs
(202) 512-4800

GAO discussed federal government actions to eliminate internal control and financial management system weaknesses. GAO found that: (1) there has been little progress in the government's efforts to strengthen its financial management system internal controls; (2) many of the systems were weak, outdated, and inefficient, and provided unreliable operational and cost data essential to monitoring program performance; (3) the federal government planned corrective actions and provided billions of dollars for financial management improvement programs, but system design flaws, misjudgements in requirements, and poor program management continued; and (4) the preparation of audited financial statements had a positive impact on system improvement and reduced fraud, waste, and abuse. GAO believes that: (1) the government needs to attract a strong work force to accomplish its goals; (2) the legislative and executive branches of government need to form a partnership to develop sound internal control and financial management systems; (3) increased congressional oversight and financial statement audits would help in the process of reviewing agency actions to correct internal control and accounting system weaknesses; and (4) financial management system improvements would require a significant monetary investment.

Jul 18, 2018

Jul 17, 2018

Jul 16, 2018

Jun 28, 2018

May 31, 2018

May 24, 2018

May 10, 2018

Apr 17, 2018

Apr 5, 2018

Looking for more? Browse all our products here