Talk:Chief Financial Officers Act of 1990

Articles I would like written

High Priority:

• CFO Act Agencies
• US Government Agencies not covered under the CFO Act
• Financial reports required by the CFO Act
• Interpreting US Government Financial Reports and Understanding How the Money Works in your Community
• US Government Financial Statements

Lower Priority, but good to have:

• Why was the CFO Act passed?
• Who usually audits CFO Act Agencies?
• What happens when a CFO Act Agency fails audit?

Key words:

• Independent Agency
• Government Corporation
• generally accepted government auditing standards -- Is this the same as GAAP, or another flavor?

From the testimony of Susan Gaffney, inspector General of HUD:

... Nowhere in these broad purposes does the CFO Act list obtaining an unqualified opinion, yet this has become the one measure that is pointed to frequently as a measure of success in improving agencies’ financial management.....

[edit] US Government Agencies not covered under the CFO Act

The Department of Homeland Security (DHS) is exempt from the CFO Act.

From Spurning the CFO Act by Roy Harris, CFO Magazine September 08, 2004:

The finance chief at the Department of Homeland Security wants "a chance to do things our way."

Some think it was just an oversight that the Department of Homeland Security, created two years ago, became the only cabinet-level agency not subject to the CFO Act of 1990.....

[edit] History of This Page

This page grew out of this discussion

a thread where I'm trying to convince members of the newsgroup to migrate some of our activity to wiki.