Prescribing accounting requirements and developing accounting systems
The Comptroller General shall prescribe the accounting principles, standards, and requirements that the head of each executive agency shall observe. Before prescribing the principles, standards, and requirements, the Comptroller General shall consult with the Secretary of the Treasury and the President on their accounting, financial reporting, and budgetary needs, and shall consider the needs of the heads of the other executive agencies.
Requirements prescribed under subsection (a) of this section shall—
provide for suitable integration between the accounting process of each executive agency and the accounting of the Department of the Treasury;
provide a method of—
integrated accounting for the United States Government;
complete disclosure of the results of the financial operations of each agency and the Government; and
financial information and control the President and Congress require to carry out their responsibilities.
Consistent with subsections (a) and (b) of this section—
the Comptroller General may prescribe the forms, systems, and procedures that the judicial branch of the Government (except the Supreme Court) shall observe.
The Comptroller General, the Secretary, and the President shall conduct a continuous program for improving accounting and financial reporting in the Government.
[Pub. L. 97–258], Sept. 13, 1982, [96 Stat. 959]; [Pub. L. 107–217, § 3(h)(5)], Aug. 21, 2002, [116 Stat. 1299].)