GAO issues financial management system checklist

The Government Accountability Office has published a checklist to help agencies meet the federal financial system requirements developed by the Joint Financial Management Improvement Program.The , developed for the Office of Management and Budget, reflects JFMIP’s updated core financial requirements. It is written for systems analysts, accountants, developers and program managers of financial systems, as well as for auditors who review systems for compliance with the 1996 Federal Financial Management Improvement Act.The checklist asks questions about functional requirements for core financial software, account balancing, debt and cost management, and required reporting.It also has technical questions about architecture, user interfaces and interoperability, to ensure that financial systems can meet a variety of workload processing needs with standard installation and configuration.JFMIP is a cooperative undertaking of the Treasury Department, GAO, OMB and the Office of Personnel Management.