Financial Management:

Status of CFO Act Implementation at the Department of the Treasury

T-AIMD-94-157: Published: Jul 13, 1994. Publicly Released: Jul 13, 1994.

Additional Materials:


Office of Public Affairs
(202) 512-4800

GAO discussed the Department of the Treasury's efforts to implement the Chief Financial Officers (CFO) Act of 1990, focusing on: (1) CFO qualifications; (2) CFO structure; (3) training of financial management staff; (4) financial management systems; and (5) audited financial statements. GAO noted that: (1) Treasury's CFO appears to be strongly qualified in accordance with CFO Act requirements; (2) although Treasury has made significant efforts, it needs to take further actions to ensure that its CFO structure provides effective financial management for its complex financial activities; (3) although Treasury has made efforts to improve the technical skills of its financial management staff, there is still room for substantial progress; (4) Treasury should continue to invest in training to ensure that financial management personnel enhance their professional skills to keep pace with emerging technologies; (5) Treasury should consider adopting the financial management practices that leading private and public organizations have used to manage their information resources; and (6) the requirement for agencywide audited financial statements should be expanded to all 23 CFO Act agencies.

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