OMB POLICY STATEMENTS
OMB: Agencies Produce More Reliable Financial Reports FY 2007
"More agencies are producing reliable financial information with fewer major accounting problems than last year, the Office of Management and Budget said today in an initial assessment of fiscal 2007 year-end financial statements.
Of 24 major agencies, 19 received a clean opinion for their fiscal 2007 report, one more than last year, said Danny Werfel, OMB’s acting controller. Agencies must file their Performance and Accountability reports and financial statements by Nov. 15.
Five more agencies joined the ranks of those having not only a clean audit, meaning the agency’s data is valid and trustworthy, but also no major weaknesses. They were the Energy, Interior and Justice departments; the Small Business Administration; and the U.S. Agency for International Development. A total of 13 agencies have accomplished this since 2001."
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