[Comments on Bill To Direct and Coordinate Federal Financial Management Activities]

In response to a congressional request, GAO commented on H.R. 3142, which would provide coordination and direction for financial management activities. GAO noted that it had drafted a similar bill which specifically provided for: (1) centralized leadership to improve financial management systems governmentwide; (2) corresponding financial management leadership in executive branch departments and agencies; and (3) annual audits of agencies to foster accountability. GAO believes that such legislation would provide a means for improving the government's financial management.