Inventory System Checklist

Systems Reviewed Under the Federal Financial Management Improvement Act of 1996 (Exposure Draft) Gao ID: AIMD-98-21.2.4 December 1, 1997

The Federal Financial Management Improvement Act of 1996 requires that agencies implement and maintain management systems that substantially comply with federal financial management systems requirements. These requirements are detailed in the Financial Management Systems Requirements series issued by the Joint Financial Management Improvement Program (JFMIP) and in Office of Management and Budget guidance. To assist in reviews of financial management systems under the Act's requirements, GAO has issued three checklists as practice aids. Two of the checklists reflect the system requirements defined by JFMIP, while the third checklist is based on the JFMIP framework document. The third checklist describes a single, integrated financial management system and, as set forth in the framework document, is primarily a reference source rather than a standard-setting document.



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