Download or read book Financial Management written by U S Government Accountability Office (G and published by BiblioGov. This book was released on 2013-07 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: In response to a congressional request, GAO provided examples of weaknesses in the federal financial management structure. GAO found examples of a wide range of problems, including: (1) lack of centralized and agency financial management leadership and long-range planning; (2) inadequate financial management systems; (3) weaknesses in internal controls; (4) lack of periodic preparation and audit of agency-level financial statements; (5) inadequate funds control; and (6) inconsistent accounting practices. GAO believes that the federal government is unable to effectively hold federal managers accountable for financial activities because of a lack of essential financial data.