Office of Federal Financial Management Federal Financial Management Improvement Act (FFMIA)
The purpose of the Federal Financial Management Improvement Act of 1996 (FFMIA) is to advance Federal financial management by ensuring that Federal financial management systems provide accurate, reliable, and timely financial management information to the government’s managers. The intent and the requirements of this Act go well beyond the directives of the CFO Act and the Government Management Reform Act of 1994 (GMRA) to publish audited financial reports. Compliance with the FFMIA will provide the basis for the continuing use of reliable financial management information by program managers, and by the President, the Congress and the public.
| Circulars: |
Circular A-123 -- Management's Responsibility for Internal Control (Effective beginning with Fiscal Year 2006) (Revised 12/21/2004) HTML or PDF (35 pages, 274 kb) -- Management's Accountability and Control (Effective through Fiscal Year 2005) (Revised 06/21/1995) HTML Circular A-127, Financial Management Systems (July 23, 1993) Circular A-130, Transmittal Memorandum #4, Management of Federal Information Resources (November 28, 2000) (23 pages, 92 kb) |
| Legislation: |
Federal Information Security Management Act of 2002 (FISMA) (P.L. 107-347) (72 pages, pdf) Accountability of Tax Dollars Act of 2002 (ATDA) (P.L. 107-289) Federal Financial Management Improvement Act of 1996 (FFMIA) (P.L. 104-208) Information Technology Management Reform Act of 1996 (Clinger-Cohen Act) (P.L. 104-106) (519 pages, pdf) Government Management Reform Act of 1994 (GMRA) (P.L. 103-356) Chief Financial Officers Act of 1990 (CFO Act) (P.L. 101-576) Federal Managers Financial Integrity Act of 1982 (FMFIA) (P.L. 97-255) Federal Information Security Management Act of 2002 (FISMA) (P.L. 107-347) (72 pages, pdf) |
| Memoranda: |
Revised Implementation Guidance for the Federal Financial Management Improvement Act (FFMIA) (January 4, 2001) (11 pages, 32 kb) |
| Other Guidance: |
OMB Bulletin No. 01-02, Audit Requirements for Federal Financial Statements (October 16, 2000) (48 pages, 94 kb) |