Information Technology Investment Management Controls Should Be Better Aligned With the Federal Information Technology Acquisition Reform Act of 2014

The Department of the Treasury is responsible for implementing the FITARA. The IRS is responsible for implementing the FITARA to the extent that the Treasury Department has delegated FITARA responsibilities to it.

On June 10, 2015, the OMB issued Memorandum M-15-14, Management and Oversight of Federal Information Technology, providing guidance on how Federal agencies were to implement the FITARA. This guidance included actions that agencies were required to take to establish a basic set of roles and responsibilities for CIOs and other senior agency officials, referred to as the common baseline.

The Chief Financial Officers Act of 19903 (CFO Act) was signed into law on November 15, 1990. It established a leadership structure linked to the OMB’s financial management responsibilities, provided for planning for resolving financial systems problems, required audited financial statements, and required the OMB to annually submit a Government wide financial management status report to Congress.