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124299 1 (1984-05-22)

handle is hein.gao/gaobacthy0001 and id is 1 raw text is: U.S. GENERAL ACCOUNTING OFFICE WASHINGTON, D.C. 20548 FOR RELEASE ON DELIVERY EXPECTED 10:00 A.M. EDT TUESDAY, MAY 22, 1984 STATEMENT OF CHARLES A. ROWSHER COMPTROLLER GENERAL OF THE UNITED STATES BEFORE THE HOUSE GOVERNMENT OPERATIONS COMMITTEE ON IMPLEMENTATION OF THE FEDERAL MANAGERS' FINANCIAL INTEGRITY ACT OF 1982 Mr. Chairman and members of the committee, I am pleased to appear before you to discuss first year efforts to implement the Federal Managers' Financial Integrity Act of 1982. The goal of this legislation--to help reduce fraud, waste and abuse and improve management of federal government operations--is one we all share. This act provides for the first time the needed discipline on a government-wide basis to identify and remedy longstanding internal control and accounting systems problems that hamper effectiveness and accountability, cost the taxpayer potentially billions of dollars, and erode the public's confidence in its government. The act perpetuates the concept first embodied in the Accounting and Auditing Act of 1950, that primary responsibility for adequate systems of control and accounting rests with management. The Congress has taken a major step forward by requiring for the first time that management report annually on the status of their internal control and accounting systems, and by holding managers publicly accountable for correction of weaknesses.

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