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Thursday, October 16, 2008

FederalNewsRadio - CFO Insights - Jimaye Sones (DISA)

Financial Accountability: How the federal government is moving toward financial accountability

Jimaye Sones - Comptroller, Defense Information Systems Agency

Financial accountability goes beyond implementing controls or achieving a clean audit opinion…it's about moving the culture of the entire agency - not just financial managers - to become the best stewards of taxpayers' dollars possible.

The strategy to achieve this, includes four tenets
1. Integrity
2. Full and open financial disclosure
3. Fiscal discipline
4. Professional competency

Federal and commercial entities continue to improve their accountability through the requirements of OMB Circular A-123 and Sarbanes Oxley in the commercial sector where entities assess their processes and controls and implement corrective actions to become more financially accountable and to reduce their risks.

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