United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 2002-05-14 monographic deposited born digital GA 1.13:GAO-02-740T https://www.govinfo.gov/app/details/GAOREPORTS-GAO-02-740T P0b002ee1803a15d1 f:d02740t DGPO 2010-08-12 2011-03-28 GAOREPORTS-GAO-02-740T machine generated eng fdlp REPORT GAOREPORTS-GAO-02-740T GAO-02-740T Auditing procedures Auditing standards Financial statement audits Proposed legislation Reporting requirements Testimony A03331

Congress is considering expanding the number of federal agencies required to prepare audited financial statements to include all executive branch agencies that have budget authority of $25 million or more. The Federal Financial Management Improvement Act of 1996 builds on the Chief Financial Officers (CFO) Act by encouraging agencies to have systems that generate timely, accurate, and useful information with which to make informed decisions on an ongoing basis. The 26 non-CFO Act agencies that GAO surveyed reported that they anticipate significant benefits from audited financial statements. https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-02-740T/html/GAOREPORTS-GAO-02-740T.htm GAO-02-740T https://www.govinfo.gov/app/details/GAOREPORTS-GAO-02-740T Testimony GAO-02-740T; Financial Management: Extending the Financial Statements Audit Requirement of the CFO Act to Additional Federal Agencies; Auditing procedures Auditing standards Financial statement audits Proposed legislation Reporting requirements Title 31 Section 3512note Title 31 Section 3515 31 U.S.C. 3512note 31 U.S.C. 3515