Navigating uncertainty through ERM: A practical approach to implementing. OMB Circular A-123 : KPMG Government Institute , November , 2016
Navigating uncertainty through ERM: A practical approach to implementing. OMB Circular A-123 : KPMG Government Institute , November , 2016
From the report: “Historically, financial reports of federal agencies focused on budgetary accounting, the reporting of obligations and expenditures of appropriated funds. The Chief Financial Officers (CFO) Act of 1990 and subsequent legislation significantly changed this pattern by requiring the 24 largest government agencies to reorganize their financial staffs and establish Chief Financial Officers to reform accounting procedures and reporting. To achieve the goals of the financial reform acts, it must be determined if executive agencies are improving financial management. This determination may be facilitated by systematic financial analysis of agency operations using information provided in agency financial reports. The objective of this thesis is to examine financial ratios calculated from federal financial statement information in order to identify fundamental dimensions of financial condition within the federal government and the ratios representative of those dimensions.”
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