Federal financial management experts say OMB’s update to how agencies and auditors complete federal financial statements has been a long-time goal.

Spending records show that the federal government sets aside hundreds of millions of dollars for Deloitte, Ernst & Young, KPMG, and PricewaterhouseCoopers, the “Big Four” of the accounting world, to ...

OMB’s memorandum is a major step forward. It recognizes that modern financial reporting must serve the public interest, not ...

OMB Chief Russell Vought calls for using a single-year model to present financial statement audits to help improve financial ...

The Office of Management and Budget is calling for a major overhaul in how federal agencies conduct financial audits.

President Donald Trump's administration is pausing over $6 billion of congressionally-appropriated federal funding for ...

Fostering public trust requires robust rules on how the technology is authorized, tested, disclosed, and overseen.

As such, the OMB memo said it has added an amended rule that allows agencies to evaluate the anticipated impact of a PLA on its ability to conduct a competitive search for a contractor. The ...

Regional teams across the country have been instructed, at times, to limit sharing information with their state and local ...

Office of Management and Budget Director Russell Vought joins 'Closing Bell Overtime' to talk the passage of President ...