Office of Federal Financial Management
Financial Standards Development
OMB actively participates in the financial standard setting process as one of the creators and sponsors of the Federal Accounting Standards Advisory Board (FASAB), which develops Federal accounting standards. Pursuant to its authority granted in the Chief Financial Officers Act of 1990, OMB defines the form and content of agency financial statements.
| Legislation: | Chief
Financial Officers Act of 1990 (CFO Act) (P.L. 101-576) |
| Other Guidance: | OMB
Bulletin No. 01-09, Form and Content of Agency Financial Statements
(September 5, 2001) -- Superseded by Circular A-136, Financial Reporting Requirements (August 23, 2005) (158 pages, 1,116 kb) |
| Resources: | www.cfoc.gov www.fasab.gov www.fms.treas.gov |
| Financial
Standards and Grants Branch |
Financial Analysis and Systems Branch |
Other Guidance | Testimony |
