Internal Users and Uses of Financial Statements within the Federal Government
Aman, Rex T.
Brook, Douglas A.
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The purpose of this thesis is to determine the extent to which executives and program managers within the 24 major Chief Financial Officer (CFO) Act agencies utilize federal financial statements, contained within their Performance and Accountability Reports (PARs) or Agency Financial Reports (AFRs), to make better decisions or manage better. Studies to date indicate that most of the benefits have occurred within the financial management domain better internal controls, improved financial systems, and more accurate and timely financial information. Additionally, clean audit opinions have resulted in reputational benefits for agency CFOs and their finance departments. To date, however, little has apparently been done to address how these financial statements and audit processes can most effectively be used. Using data obtained from the 24 major CFO agencies, along with three external perspectives, this thesis explores the internal users and uses of financial statements within the federal government to see if there is evidence that higher order benefits are being realized, namely the use of financial statements by executives and managers within the federal government for improved decision making and managing.
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