[Federal Register Volume 64, Number 34 (Monday, February 22, 1999)]
[Notices]
[Pages 8573-8574]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-4249]


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GENERAL ACCOUNTING OFFICE


System Requirements Checklists

AGENCY: General Accounting Office.

ACTION: Notice of document availability.

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SUMMARY: The General Accounting Office (GAO) is issuing the System 
Requirements for Managerial Cost Accounting Checklist (GAO/AIMD-99-
21.2.9). The checklist reflects the system

[[Page 8574]]

requirements defined by the Joint Financial Management Improvement 
Program (JFMIP). This is the fourth in a series of checklists that may 
be used as tools to help agencies review their financial management 
systems and assist auditors with their responsibilities under the 
Federal Financial Management Improvement Act (FFMIA) of 1996. Although 
this checklist is not required to be used by agencies, this notice 
indicates that the checklist is available from GAO for immediate use.

DATES: January 19, 1999.

ADDRESSES: Copies of the cost accounting checklist are available by (1) 
pick-up at Document Distribution, U.S. General Accounting Office, Room 
1100, 700 4th Street, NW. (corner of 4th and G Streets, NW.), 
Washington, DC; (2) mail from U.S. General Accounting Office, P.O. Box 
37050, Washington, DC 20013; (3) phone at 202-512-6000 or FAX 202-512-
6061 or TDD 202-512-2537; or (4) on GAO's home page (http://
www.gao.gov) on the Internet.

FOR FURTHER INFORMATION CONTACT: Robert W. Gramling, 202-512-9406.

SUPPLEMENTARY INFORMATION: The FFMIA requires, among other things, that 
agencies implement and maintain financial management systems that 
substantially comply with federal financial management systems 
requirements. These system requirements are detailed in the Financial 
Management Systems Requirements series issued by JFMIP and Office of 
Management and Budget (OMB) Circular A-127, Financial Management 
Systems.
    The JFMIP requirements documents identify: (1) a framework for 
financial management systems, (2) core financial systems requirements, 
and (3) 16 other systems that support agency operations. To date, JFMIP 
has issued the framework and core documents, and 7 of the 16 systems 
(inventory, seized/forfeited asset, direct loan, guaranteed loan, 
travel, personnel-payroll, and managerial cost accounting). In addition 
to the cost accounting checklist, GAO has issued three other checklists 
(Framework for Federal Financial Management System Checklist (GAO/AIMD-
98-21.2.1), Core Financial System Checklist (GAO/AIMD-98-21.2.2), and 
Inventory System Checklist (GAO/AIMD-98-21.2.4)). GAO plans to issue a 
checklist for each of the JFMIP systems requirements documents as the 
existing ones are updated and new ones are issued. This checklist, 
issued in final, was initially issued as an exposure draft and the 
comments received were analyzed and considered.
    OMB Circular A-127 and OMB's Implementation Guidance for the 
Federal Financial Management Improvement Act (FFMIA) of 1996, issued 
September 9, 1997, provide the basis for assessing compliance with the 
FFMIA requirement of agencies to implement and maintain financial 
management systems that comply substantially with federal requirements. 
OMB's guidance provides indicators for chief financial officers and 
inspectors general to assist them in determining whether the agency's 
financial management systems substantially comply with federal 
financial management systems requirements. The annual assurance 
statement required pursuant to section 4 of the Federal Managers' 
Financial Integrity Act is one of those indicators. Agencies can use 
GAO's checklists to help determine annual compliance with section 4 of 
the Integrity Act.
Gene L. Dodaro,
Assistant Comptroller General, Accounting and Information Management 
Division.
[FR Doc. 99-4249 Filed 2-19-99; 8:45 am]
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