The Government Accountability Office (GAO) has published a guide to help agencies meet federal mandates. The document is a checklist of core financial system requirements.

The checkist is meant to be of help to everyone involved in creating financial management systems for government agencies. This includes systems analysts, program managers, auditors and business managers.

Underlying legislation which they are to comply with is the 1996 Federal Financial Management Improvement Act.

Functionality covered includes, general ledger or account balances, payment receivables. Technical issues include configuration, operating procedures and user interfaces.

Requirements to be met are laid down by the Joint Financial Management Improvement Program.

For more info see here

(The GAO is the rough equivalent of the National Audit Office in the UK.)

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