This guidance is effective for FY 1997 reporting. In addition to these reporting requirements, both OMB and GAO have annual reporting requirements under the Act.
More detailed information regarding agency responsibilities follows.
The guidance that follows is intended as interim guidance to be used as part of audits of Federal financial statements for FY 1997 reporting. This is accomplished through a unified set of systems comprised of financial systems and financial portions of mixed systems. These systems may or may not be operated by the CFO's office. Security over financial information is provided in accordance with Circular A-130, Appendix 3. Internal controls over financial management systems are designed properly and operating effectively.