Financial Management: Status of CFO Act Implementation at the Department
of Commerce (Testimony, 06/28/94, GAO/T-AIMD-94-150).

In implementing the Chief Financial Officers Act of 1990, the Commerce
Department has forthrightly acknowledged serious problems with its
financial management systems and related internal controls and has
placed strong leadership in key financial management jobs. These persons
have shown commitment to the act and are trying to fix many of
Commerce's long-standing problems. Although implementing improvements
will be a long-term effort, Commerce should begin considering ways to
enhance the chief financial officer structure, ensure that financial
management staff are adequately trained, and move toward an agencywide
financial statement audit.

--------------------------- Indexing Terms -----------------------------

 REPORTNUM:  T-AIMD-94-150
     TITLE:  Financial Management: Status of CFO Act Implementation at 
             the Department of Commerce
      DATE:  06/28/94
   SUBJECT:  Financial management
             Financial management systems
             Internal controls
             Financial statement audits
             Chief financial officers
             Human resources training
             Federal agency accounting systems
             Reporting requirements
             Systems evaluation
             Financial records
IDENTIFIER:  Dept. of Commerce Administrative Management System
             Economic Development Revolving Fund
             Coastal Zone Management Fund
             NOAA Damage Assessment and Restoration Revolving Fund
             NOAA Fishing Vessel Obligation Guarantee Program
             Dept. of Commerce Financial Statements Preparation and 
             Audit Survey Program
             Joint Financial Management Improvement Program
             
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