H. Rept. 108-533, Part 1: Department of Homeland Security Financial Accountability Act, Report to Accompany H.R. 4259, June 9, 2004 [open pdf - 79KB]
Alternate Title: H. Rept. 108-533: Department of Homeland Security Financial Accountability Act
"The Committee on Government Reform, to whom was referred the bill (H.R. 4259) to amend title 31, United States Code, to improve the financial accountability requirements applicable to the Department of Homeland Security, to establish requirements for the Future Years Homeland Security Program of the Department, and for other purposes, having considered the same, report favorably thereon without amendment and recommend that the bill do pass. […] H.R. 4259 will ensure that the CFO at DHS is a presidential appointee subject to Senate confirmation, reports directly to the Secretary and as amended as well to the Undersecretary for Management, and is part of the statutorily created CFO Council. In addition, the bill ensures that DHS will comply with the Federal Financial Management Improvement Act of 1996 (enacted as Title VIII of the Omnibus Consolidated Appropriations for Fiscal Year 1997, P.L. 104-208), which establishes important financial management systems requirements for the CFO Act agencies. Additionally, this legislation requires an opinion-level audit of DHS' internal controls. Currently, audit guidance from OMB requires a report on internal controls in conjunction with annual financial audits. Having an auditor issue an opinion on the internal controls report would help uncover inherent weaknesses and address problems as business practices are being established, before they become ingrained. Strong internal controls are essential to sound management."
H. Rept. 108-533, Part 1; House Report 108-533, Part 1
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