Improving the cost, quality, and performance of financial management operations and systems is one of the Obama’s administration’s top management priorities. While the financial management community has made significant progress over the years, it continues to face challenges in meeting some of the basic standards for accounting and reporting.
While the financial management community has made significant progress over the years, it continues to face challenges in meeting some of the basic standards for accounting and reporting. Many agencies currently use outdated financial systems that do not support their efforts to improve financial performance and accountability. Efforts made to improve financial systems through upgrades or replacement of current financial systems must be undertaken with planning and care.
Improving the cost, quality, and performance of financial management operations and systems is one of the Obama’s administration’s top management priorities. While the financial management community has made significant progress over the years, it continues to face challenges in meeting some of the basic standards for accounting and reporting.