The FIPS system allows federal agencies to update
their progress in resolving auditing issues with their financial
statements. This information is available to the Office of Management and
Budget for review.
Directions for
FIPS
Agencies are
supposed to enter and certify their FIPS data no later than 10 business
days from date the PAR is issued.
For FY 2008
Agencies will issue their PARs by Nov
17th and certify their FIPS data by the Dec 1st.
The FIPS data should come from the final PAR, not a draft.
The certification memo must be signed by the CFO and the IG--it may
not be delegated to deputies or other staff.
Agency POC's should keep their personnel information updated.