Implementing the Federal Managers' Financial Integrity Act

This article, which appeared in the GAO Review, Vol. 20, Issue 2, Spring 1985, discusses the first-year review of the Federal Managers' Financial Integrity Act of 1982 implementation and summarized the lessons learned and the impacts of ongoing and future work in this area. GAO concluded that the agencies satisfactorily began their assessments and demonstrated a strong management commitment to implementing the act but noted that each agency needed to improve the quality of its self-assessments. The Interdivisional Financial Integrity Act Task Force was established to ensure the consistency, focus, and quality of work performed by agency team leaders and to provide overall coordination and direction in processing the government-wide, second-year report. GAO and the Office of Management and Budget must sustain leadership if the government is to realize the act's potential savings and must continue to move federal managers toward full integration of effective internal control and accounting systems through annual audits.