Electronic, Web Based Financial Reporting

The objective of the Financial Reporting Model Task Force was to increase users' access to and understanding and use of financial information in the Consolidated Financial Report (CFR) of the federal government, while avoiding costly requirements that do not add value. To help achieve this objective, the task force developed 10 recommendations for the FASAB and its sponsors. While the task force primarily focused on government-wide reporting, recommendations 4, 5, and 8 also apply to agencies.