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Goldberg

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Transcript

  • 1.
    • Adam Goldberg
    • Office of Management and Budget
    • June 2007
    Independent Verification and Validation Next Generation
  • 2.
    • Financial Management Evolution
      • Financial Reporting
      • Internal Controls
      • Financial Systems
    • Financial System Risks
    • IV&V NG
    • Financial Management Next Generation
    IV&V NG
  • 3.
    • Financial Reporting
      • 1990 and the Chief Financial Officers (CFO) Act
        • Comptroller General testified that billons of dollars were “at risk”
        • Little assurance that financial statements were accurate and reliable
      • 2007 and the President’s Management Agenda
        • 19 of 24 CFO Act Agencies report “clean” opinions
        • Auditor material weaknesses reduced from 62 to 41 since 2001
        • Financial reporting timeline reduced from five months to 45 days
    Financial Management Evolution
  • 4.
    • Internal Controls
      • 1983 and the Federal Managers' Financial Integrity Act
        • Requires ongoing evaluations and reports of the adequacy of the systems of internal accounting and administrative control
      • 2004 and Revised Circular A-123, Appendix A, Management’s Responsibility for Internal Control
        • Addresses assessing, documenting, and reporting on the effectiveness of internal control over financial reporting
    Financial Management Evolution
  • 5.
    • Financial Systems
      • 1993 and Circular A-127, Financial Management Systems
      • 1996 and the Federal Financial Management Improvement Act (FFMIA)
      • 2004 and the Financial Management Line of Business (FMLOB)
    Financial Management Evolution
  • 6.
    • Yesterday
    • COTS with significant customizations
    • Government-wide system requirements
    • Agency-specific implementations
    • Agency-specific feeder systems
    • In-house hosting and O&M
    • Today
    • COTS with limited customizations
    • Government-wide system requirements and certifications
    • Department-wide implementations
    • Agency-specific systems with lines of Business
    • Shared services for hosting and O&M
    Financial Systems Risks
  • 7.
    • Two-tiered approach
      • Shared-service reviews
        • Financial system software certifications
        • Shared service designations (public and private)
          • Standard accounting and processes
        • Government enterprise architecture
          • IT security (e.g., FISMA, FISCAM, SAS 70)
          • Line of business applications (e.g., ePayroll, eTravel, HRLOB, GMLOB)
      • Agency-specific reviews
        • Agency enterprise architecture
          • Feeder systems and domain specific requirements
        • Data readiness and reconciliation
        • Personnel readiness
    IV&V NG
  • 8.
    • Become a risk-based and adaptive financial management organization
      • Transfer versus accept risks (e.g., shared services)
      • Focus on reporting programmatic information in addition to financial statement information
      • Detect risks and problems versus report risks and problems (e.g., data mining)
    Financial Management NG

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