Chief Financial Officers Act

The Chief Financial Officers Act, enacted in 1990, aimed to improve financial management in the U.S. federal government. It requires federal agencies to appoint Chief Financial Officers (CFOs) responsible for overseeing financial operations, ensuring accurate reporting, and improving budgeting processes. The act emphasizes accountability and transparency in government finances, helping to prevent fraud and mismanagement. By establishing clear financial leadership, the law seeks to enhance the efficiency and effectiveness of federal financial management, ultimately leading to better use of taxpayer dollars.